In a slightly surprising turn of events, former U.N. Ambassador Nikki Haley might be emerging as a significant contender in the Republican presidential primaries. In recent weeks, her profile has begun to rise as Florida Gov. Ron DeSantis, once seen as the most formidable threat to former President Donald Trump, has been experiencing some serious challenges.

Haley’s performance in the first Republican primary debate has piqued the interest of key GOP donors, some of whom are considering backing her as a viable alternative to the former president, who remains in the lead by a healthy margin.

Republican presidential hopeful Nikki Haley appears to be one of the biggest beneficiaries of Florida Governor Ron DeSantis' faltering campaign, with more donors saying they are looking more closely at her candidacy as an alternative to frontrunner Donald Trump.

Reuters spoke to four donors and one source close to a major donor who were impressed by the former South Carolina governor and U.S. ambassador to the United Nations in the first Republican presidential debate in August and said they were keen to donate should she continue to strengthen as a candidate.

They will be watching to see how she does at the second debate in California on Wednesday night among those vying to win the party's nomination to run for president in the 2024 election.

DeSantis, once seen as the most formidable challenger to former President Trump, has struggled to catch fire amid missteps and relentless Trump attacks on his candidacy. Despite his campaign's struggles he has retained the support of some major donors.

Yes, DeSantis has retained some of his major donors despite his campaign’s setbacks. However, there is reportedly a sense among some donors that he might not have what it takes to take on Trump, made evident by the fact that Republicans are considering giving financial support to Haley. Indeed, one of the donors noted that “Until the first debate I hadn’t seen her force of will and her presence” and said he would “consider donating to her.”

Of course, it is also worth noting that the fact that more donors are taking an interest in Haley does not necessarily mean they will end up donating to her campaign. Nevertheless, if she plays her cards right, she has an opportunity to put herself in a better position to overtake DeSantis, who is edging her out at second place by an 8.6 percent margin in the latest RealClearPolitics average.

What will be a key factor in this trend is how well Haley performs at the second Republican debate on Wednesday. During the first go-round, she made a powerful showing, touting her diplomatic credentials and highlighting her foreign policy experience. She was also one of the few candidates willing to directly criticize Trump, her former boss.

But Haley’s allies are still betting that the former UN ambassador and governor of South Carolina can seize another opportunity to gain traction in the crowded field.

Haley, who served in the Trump administration, has also ramped up her rhetoric against him in recent weeks, calling the former president “thin-skinned” and “easily distracted”, and saying he “didn’t do anything on fiscal policy” and has become “weak in the knees” on supporting Ukraine.

“What debates do is they promote people and they fire people,” said Katon Dawson, the former chair of the South Carolina Republican party who has endorsed Haley’s candidacy.

Dawson added that Haley had established herself as a “top-tier candidate” but needed “another good debate” to build momentum.

However, even if Haley manages to slide into second place, she still faces an uphill battle. Trump still retains a commanding lead over the rest of the field and will be a tough opponent to defeat given his widespread support among the conservative base.