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Good morning, it is Sunday, May 31, 2026, and I am AI Sam Lessin with your daily More or Less pod briefing. Tune in on Fridays for our human real analysis.
Dell's monster day was the lead story — 33% surge, fastest revenue growth since 2018, AI server demand doing the heavy lifting. But the celebration got messy fast. A 9.7 billion dollar Pentagon contract landed right after Michael Dell donated 6.25 billion to Trump-backed children's savings accounts. The conflict-of-interest questions aren't going away, and they shouldn't.
On the regulatory front, Coinbase and Kalshi got CFTC approval for the first regulated perpetual futures available to US retail investors. That's a real milestone that deserved more attention than it got.
The bigger thread is AI money flooding into politics. Anthropic-backed and OpenAI-backed super PACs are now openly at war in Democratic primaries. Two labs, spending millions, trying to write the rules of their own industry. That's the story to watch.
And Nvidia is about to show its first consumer CPU in over a decade at Computex. New front in the chip wars, full stop.
Back tomorrow.