Republican presidential candidate Nikki Haley vowed to stay in the race this week after coming in second behind front-runner Donald Trump in New Hampshire's primary contest.

"New Hampshire is first in the nation. It is not the last in the nation."

But that disappointing finish has proven a hard lesson for her deep-pocketed donors: it seems big money can't win the Republican presidential nomination. At least, not against Trump.

"And just a little note to Nikki. She's not going to win. She's not going to win."

A Reuters analysis of campaign finance disclosures filed with the Federal Elections Commission or FEC shows groups backing Haley outspent the main outside group supporting Trump by more than two-to-one over the past year.

The primary pro-Haley super PAC has so far reported spending more than $70 million in that period. And another super PAC affiliated with conservative billionaire Charles Koch reported spendings around $40 million either supporting Haley or attacking Trump.

That's compared with the $50 million reported spent by the main Trump-boosting super PAC, called MAGA Inc.

And Trump has enjoyed two comfortable primary wins, first in Iowa and then New Hampshire.

"She had a very bad night. She had a very bad night."

The Trump and Haley campaigns did not respond to requests for comment.

Haley is the last remaining challenger to Trump in the primary. Former rivals, including Florida Governor Ron DeSantis and South Carolina Senator Tim Scott, have dropped out and endorsed the former president.

One former candidate, former New Jersey governor Chris Christie, seems to have understood that big dollars would make little dent in Trump's dominance. He was caught on a hot mic saying this about Haley's campaign spending:

"Yeah, that's what you get. Yeah, yeah. I mean look, she spent 68 million so far, just on TV. She spent 68 million so far, 59 million by DeSantis. And we spent 12. Yeah, I mean, who's punching above their weight and who's getting a return on their investment? You know? And she's gonna get smoked. And you and I both know it. She's not up to this."

The apparent failure of anti-Trump Republicans to stop him highlights his popularity with his supporters...

"I really love the guy, and I've never felt that way about a politician before."

... many of who dismiss the multiple criminal prosecutions he faces as politically motivated.

Trump says he is innocent of all the charges.

The disempowering of wealthy donors is yet another way that Trump, who is financially fueled by small contributions, has fundamentally remade the Republican Party.