Updated 11:27 p.m.

Barack Obama has officially become President Elect of the United States.

The Associated Press named Obama victor at approximately 10 p.m. Shortly after Sen. John McCain gracefully conceded to Obama.

Indiana,as well of six other states remain uncalled.If Obama wins Indiana, he will be the first Democratic candidate to win the state since Lyndon B. Johnson did in 1964.

New Mexico and their five electoral votes have switched parties with 55 percent of voters choosing Sen. Barack Obama. Currently, 22 percent of precincts have been reported.

Projections are being made in 11 more states — Texas, Louisiana, Alabama, South Carolina, Michigan, New York, North Dakota, Kansas, New Mexico, West Virginia and Wyoming.

Sen. John McCain has picked up eight of the 11 states with the exception of Michigan, a state carrying 17 votes, and New York, a state carrying 31 votes.

McCain's seven winning states carry a total of 77 electoral votes.

Obama is predicted to win Wisconsin's 10 electoral votes. Wisconsin has voted Democratic in the past two presidential elections with margins of victory of two percent.

Obama has picked up two crucial states — Pennsylvania and Ohio — and a combined 41 electoral votes.

With 17 percent of the precincts in Pennsylvania reporting, Obama has collected 69 percent of the vote. This is a state that was narrowly won by Democrats in 2004 and 2000.

In the past few months, the buzz Ohio has been high. In this election, Ohio has been considered a key swing state for both campaigns. In 2004 and 2000, George W. Bush claimed the state by a victory of less than three percent.

Obama is projected to claim Ohio's 20 electoral votes. Currently, Obama is leading with 55 percent of the reported vote.

Obama is also being named the projected winner in his home state, Illinois. The state, which carries 21 electoral votes, has voted Democratic in the past two presidential elections.

Presently, 18 percent of the votes have been counted and Obama has collected 60 percent of those votes.

Another blue state, Massachusetts, has been claimed by Obama. The state carries 12 electoral votes and voted Democratic in 2004 and 2000. Currently, Obama has 62 percent of the vote with 27 percent of the vote recorded.

Two New England states, New Hampshire and Connecticut, with a combined 11 electoral votes, have gone blue.

Obama has a commanding lead in both states with 10 percent of the precincts reporting in New Hampshire and 12 percent in Connecticut.

Obama has 60 percent of the vote in New Hampshire — a state that went Democratic in 2004 and Republican in 2000. In the last two presidential elections, the winning candidate claimed victory in the state by only one percent.

Connecticut is a state that was claimed by both John Kerry and Al Gore in previous elections. So far, 68 percent of Connecticut voters have supported Obama.

Obama is also being declared the projected winner in New Jersey, a state that carries 15 electoral votes. Only 10 percent of the precincts are reporting in that state.

New Jersey voters have voted Democratic in the past two presidential elections. Currently, Obama is leading 53 percent to 45 percent.

McCain picked up 11 electoral votes in Tennessee, a state that voted for Bush in the last two elections. McCain has captured 58 percent of the vote with 22 percent of the precincts reporting.

Sticking true to its previous voting patterns, Kentucky, with 10 percent of precincts reporting, has given its eight electoral votes to McCain.

With 52 percent of the vote, McCain has been declared the presumptive winner in Kentucky. In both 2000 and 2004, Bush easily claimed Kentucky with 19 percent of the vote in 2004 and 15 percent in 2000.

Kentucky is one of three states to have closed their polls. Vermont and Indiana join them.

More updates to come.

Click here to watch videos of Obama and McCain's speech.