Zero Rss

Barry Diller Bets Big On Real-World Assets AI Can't Replace With MGM Resorts Bid

People Incorporated, formerly IAC and run by Barry Diller, has submitted a non-binding proposal to acquire the remaining MGM Resorts shares it does not already own for $48.30 per share in cash. 

The latest Bloomberg data show People Inc. owns 26.1% of MGM Resorts, or about 66.82 million shares. The offer to buy the remainder would cover roughly 73.9% of MGM that is not already owned.

The $48.30-per-share offer represents a 24.1% premium to MGM's 30-day volume-weighted average price, more than a 30% premium to its 90-day VWAP, and a 10.6% premium to the most recent closing price. Such a deal would value MGM Resorts at $18.8 billion, including debt

MGM Resorts shares are up 15% in late morning trade. 

"We began investing in MGM nearly six years ago because we believed it represented a rare kind of business: one with real-world assets that AI cannot easily replicate or disintermediate and exceptional digital growth opportunities. That conviction has only strengthened over time," Diller wrote in a statement.

He continued, "We continue to believe the market materially undervalues the power and durability of MGM's assets. We believe MGM's management team is superb, and that there is a compelling opportunity to support MGM's next phase of growth and help unlock its full value."

People Inc. expects MGM to go private if the deal proceeds. It would fund the transaction with cash on hand at both People and MGM, as well as additional debt and equity commitments.

"People Incorporated expects that it will own just over 50.1% of the equity of the company, with other investors (which may include existing shareholders of MGM) holding minority interests. People Incorporated would control the MGM business," Diller's firm stated.

News of the take-MGM-private deal comes days after Tilman Fertitta, the Texas billionaire behind Golden Nugget and Landry's, reportedly prepared a $5.7 billion takeover of Caesars Entertainment.

Is Wall Street's next big trade a rush into assets AI can't easily disrupt? 

Tyler Durden Mon, 06/01/2026 - 13:40

Trump: Hezbollah Agrees Shooting Will Stop & Israel Will Avert Attack On Beirut

Update(1335ET): In a rare development, Iran itself is now issuing warnings for northern Israel. Tehran is saying that if Beirut comes under fresh Israeli attack, then new assaults on northern Israeli settlements will in turn be unleashed:

Iran’s Khatam al-Anbiya Central Headquarters has warned residents of northern Israel to leave the area if Israel carries out threats to expand attacks on Beirut and its southern suburbs.

But at the same time there are reports saying Hezbollah has indicated to Washington that it is ready to agree to a ceasefire if Israel does the same. And more:

• HEZBOLLAH SAYS CONSENT WOULD BE WITHOUT PRECONDITION:CHANNEL 12
• TRUMP: HEZBOLLAH, ISRAEL AGREE NOT TO ATTACK EACH OTHER

Trump phone call with Netanyahu: Hezbollah agrees shooting will stop; will be no IDF troops going to Beirut:

Regional Asharq news writes that "Lebanon informed the US of Hezbollah's acceptance of Washington's proposal and its readiness to commit to not targeting Israel." But a ground war in southern Lebanon is already well underway - and a truce would likely be determinant on some level of an IDF withdrawal of territory captured in the last days.

*  *  *

The US-Iran ceasefire is being tested on multiple fronts, with Tehran already having announced Monday the suspension of contact with Washington over the escalation of Israel's ground war in Lebanon, where the IDF keeps pushing further north of the Litani River. Israel looks poised to resume major airstrikes on Beirut, despite that technically it has a US-mediated ceasefire in place with the government of Lebanon. Israeli leaders have vowed to halt Hezbollah's persistent drone strikes on northern Israel, and to establish a security buffer zone.

Also on Monday Israel's defense minister threatened there will be "no calm in Beirut" if Hezbollah's rockets and drones continue raining down on Israeli communities and troop locations. This is a direct threat to resume airstrikes on the capital city. This has direct impact on the US-Iran ceasefire:

IRAN'S STATE TV SAYS PROBABILITY OF CEASEFIRE BETWEEN IRAN AND U.S. ENDING IS HIGH IF ATTACKS ON LEBANON DO NOT STOP

via EuroNews

"The Dahiyeh in Beirut is no different from the communities in northern Israel – if there is no calm in the north, there will be no calm in Beirut," Israel Katz said in a statement released by his office,

Dahiyeh a Hezbollah stronghold near the country's main international airport, but is densely packed with civilians. Each wave of Israeli attacks has historically resulted in high civilian casualties.

"At the same time, the IDF continues to operate with fire and maneuver against Hezbollah terrorists and infrastructure in Lebanon ... in order to push threats away from IDF forces and from the residents of the State of Israel, and to turn the Litani area into a zone under IDF security control, free of weapons and terrorists," Katz added.

Some pundits have argued that the new Lebanon campaign is aimed at hindering Washington from making a 'bad deal' with Tehran (from Tel Aviv's perspective). Others have said Netanyahu appears "stuck" and doesn't have a clear mission in Lebanon:

Israeli PM Benjamin Netanyahu is “stuck” in terms of military strategy in Lebanon, according to Jad Melki, professor of media studies at the Lebanese American University.

Melki told Al Jazeera that most of Israel’s escalation has been targeting civilian centres in the city of Tyre, villages in south Lebanon, and historical sites like Beaufort Castle.

“Most of these have been built by Netanyahu as major strategic accomplishments, but those have been mostly exaggerated. Even the Beaufort Castle – unless we’re living in the 12th century, it’s not a strategic military location anymore,” he said.

“The problem is that Netanyahu is stuck,” Melki told Al Jazeera. “He cannot advance very quickly, as he will break the Israeli army, and he cannot sit still in the occupied territories of South Lebanon right now because the resistance is basically hunting his soldiers like sitting ducks, so he’s stuck and can only bomb hospitals and kill civilians and medical workers.”

Opinions have remained varied as to what Israel hopes to gain by escalating things in Lebanon at this fragile point where Israeli is at war on multiple fronts (and might the Houthis join next?):

Told @BeckyCNN:

- IRGC media claim suspension of Iran-US exchanges of messages, but we should be cautious pending official announcement.

- Israel may tell Trump that escalation in Lebanon will strengthen his hand vs Iran, but likely aim is to derail Iran-US diplomacy. pic.twitter.com/NWmTQsbIbg

— Mohammad Ali Shabani (@mashabani) June 1, 2026

Local Israeli media outlets have also in some cases questioned the strategic utility of the entire operation in establishing a 'buffer zone', pointing out that Hezbollah’s tactical drone fleet is widely believed to possess an operational range in excess of 30 km.

Hezbollah has been having success especially with fiber-optic cable drones which are not to susceptible to jamming, hacking, or other electronic warfare interception measures. All of these developments mean that the Washington-mediated ceasefire is effectively dead, and as Hezbollah's asymmetric warfare is likely to ramp up in response.

Tyler Durden Mon, 06/01/2026 - 13:34

This Is How Leftists React To Facts...

Authored by Steve Watson via Modernity.news,

When presented with uncomfortable irrefutable statistics on migrant crime, those on the left don’t debate—they threaten violence and scream about history as an excuse for chaos today.

That’s exactly what unfolded outside the Delaney Hall ICE detention facility in Newark, New Jersey, Saunday. GB News chief US correspondent Ben Leo was on the ground covering anti-ICE protests—already marked by days of clashes, a hunger strike by detainees, and assaults on officers—when he calmly laid out basic facts about illegal migrant crime patterns in the UK while engaging with the ‘protesters’.

The furious black nationalist got inches from Leo’s face, accused Brits of colonizing the world “through rape, murder and pillaging,” and warned he was “holding everything back not to break your f***ing jaw.”

Me: certain nationalities in UK are more likely to commit sexual offences than Brits

Leftist nutcase: “I’m gonna break your f*****g jaw.”

ICE detention facility in New Jersey.

I’m not surprised Charlie Kirk was murdered. These people are lunatics. pic.twitter.com/ET8GzoJhCM

— Ben Leo (@Benleo) May 31, 2026

Leo stood his ground without flinching. Lurking right behind the seething guy, a spectacled soy leftist pathetically attempted to pile on, weakly joining the intimidation effort by demanding Leo “go back to your country”—the height of irony at an open-borders rally.

The incident, captured on video and shared widely, shows how facts about immigration enforcement trigger outright rage from open-borders activists. While ICE works to secure America’s borders under policies prioritizing law and order, protesters treat any challenge to mass migration as a personal attack worth physical intimidation.

In the clip, Leo began by referencing data showing certain nationalities in the UK are disproportionately involved in sexual offences compared to native Brits. The protester immediately pivoted to colonial history.

“The BRITS that colonised the whole world you mean? That raped and pillaged the WHOLE WORLD to get the power they have THE BRITS,” he shouts.

“YEAH The BRITS who did THAT. And YOU guys have the audacity TO SAY AFGHANS AND SOMALIS DID WHAT?”

Leo responded evenly: “Well it’s not Audacity. It is just a fact.”

The man escalated, demanding: “IS IT NOT A FACT THAT Y’ALL COLONIZED THE WORLD THROUGH RAPE, MURDER AND PILLAGING, RIGHT OR WRONG?”

The guy then repeated insults—“you’re a piece of s,” “you’re a liar”—and got inches from Leo’s face, spitting as he ranted about how he “came out here for violence,” not to talk.

Leo stayed composed, pointing out the obvious: “This doesn’t make your argument look good. That’s the left. That is the degenerate violent left. You give facts. You get data. And they get violent.”

The exchange ended with the soy leftist in the background yelling “go back to your country.” Leo’s deadpan reply: “I live here.” When asked how he got there: “Aeroplane.”

On GB News, Leo later reflected on the moment. He explained he could have countered with historical facts—Britain’s role in abolishing the slave trade, Royal Navy efforts against it—but prioritized de-escalation and safety amid the aggression. “I was more concerned about watching his hands… making sure that he wasn’t about to swing for me.”

‘The clip demonstrates that the left lunatics are exactly that.’@Benleo reacts to the moment when an anti-ICE protester aggressively confronted him after he presented some simple facts on migrants in Britain.

📺 Freeview 236, Sky 512, Virgin 604 pic.twitter.com/00wKP1SxdV

— GB News (@GBNEWS) May 31, 2026

He also addressed the police response, calling it “chilling” and “worrying.” Officers appeared uninterested after the threat, with one suggesting Leo’s questions were “provocative.” Leo noted: “It didn’t really seem like the police were bothered… presenting simple facts and asking what you’re doing here… is somehow provocative.”

‘It didn’t really seem like the police were bothered.’

GB News Presenter @Benleo says the police response at the New Jersey detention centre, as he was being confronted, was ‘chilling’ and a worrying sign that authorities are too sympathetic towards agitators. pic.twitter.com/ixexJlXw1O

— GB News (@GBNEWS) June 1, 2026

This isn’t isolated. Protests at Delaney Hall have turned violent for over a week, with reports of objects thrown, entrances blocked, and even an ICE agent bitten. Detainees allege poor conditions, but federal officials call the strike a political stunt amid efforts to deport serious offenders.

The confrontation exposes a deeper hypocrisy. Leftist activists rage against “colonialism” while ignoring how British institutions—rule of law, abolitionism, and innovation—built much of the modern world migrants flock to. They excuse crime waves from unchecked migration by pointing to the past, yet demand America absorb endless inflows without consequences.

Leo’s calm handling underscores a key truth: facts don’t care about feelings. When open-borders ideology meets reality—rising sexual offences, strained resources, cultural clashes—it produces not debate but threats. This is the same mindset behind attacks on figures like Charlie Kirk and repeated assassination attempts on President Trump.

America First policies, like robust ICE operations, exist precisely because ignoring these patterns endangers citizens. The left’s violent reaction proves they know the data is irrefutable—they just refuse to accept it.

The left’s mask slips when challenged. They’re not tolerant—they’re unhinged when their narrative cracks.

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

Tyler Durden Mon, 06/01/2026 - 13:05

French Commandos Board & Seize 4th Russian 'Shadow Fleet' Vessel Since September

France announced Monday another weekend interdiction of a Russian "shadow fleet" vessel in international waters near its coast. The French Navy boarded and detained a sanctioned oil tanker, President Emmanuel Macron announced Monday, in an operation which had the assistance from the UK Royal Navy and other allies.

This marks the fourth time since September that French commandoes have intercepted a boarded a sanctioned Russian vessel in regional waters.

via AFP/French military

The vessel, identified as the Tagor, originated from Murmansk, Russia, and was taken by French authorities while it traversed around 400 nautical miles (740 km) west of the tip of Brittany.

"It is unacceptable for ships to circumvent international sanctions, violate the law of the sea and fund the war that Russia has been waging against Ukraine for more than 4 years," Macron wrote in a post on X.

The apparent legal justification France's navy has relied on for such actions is the practice of "flag-hopping" - which involves a crew repeatedly changing displayed flags, along with often invalid registrations to thwart international tracking monitors.

At the time of boarding, via soldiers rappelling from helicopter, the ship was falsely flying a Cameroonian flag while reportedly en route to the coastal African city of Limbe, Cameroon.

Macron confirmed further on X: "This operation took place in the Atlantic Ocean, on the high seas, with the support of several partners, including the United Kingdom, in strict compliance with the law of the sea."

The Kremlin again condemned such 'unlawful' seizures in international waters, with spokesman Dmitry Peskov saying, "We consider these acts as illegal, they border on international piracy … Russia is taking measures to ensure the safety of its cargo."

The vessel's captain is a Russian citizen, according to an embassy disclosure from Paris. According to more:

Guillaume Le Rasle, a spokesperson for the prefecture, said the tanker was under EU and US sanctions. “It is a vessel that was known and tracked,” he told AFP.

“The decision to divert it was taken Sunday evening. The objective of the diversion is to verify the validity of its flag,” Le Rasle said, adding that the tanker, which has frequently changed flags, was “almost empty” at the time of boarding.

La Marine nationale a arraisonné hier matin un nouveau pétrolier sous sanctions internationales en provenance de Russie : le Tagor. Notre détermination est constante et totale.

Cette intervention a été effectuée en Atlantique, en haute mer,… pic.twitter.com/zxEslYjbUE

— Emmanuel Macron (@EmmanuelMacron) June 1, 2026

The last several seized tankers were also flying flags of African nations, and these interdictions have stretched back through last year. In some instances, Russia has been sending military escorts - which of course has seen French and European militaries hold off executing any action.

Tyler Durden Mon, 06/01/2026 - 12:50

Anthropic Confidentially Files For IPO As Frontier AI Labs Race To Go Public

Four days after releasing its latest Claude Opus 4.8 model and raising $65 billion at a $900 billion valuation, Anthropic confidentially filed a draft Form S-1 with the SEC late Monday morning for a proposed IPO of its common stock.

"This gives us the option to go public after the SEC completes its review. The proposed initial public offering will depend on market conditions and other factors," the maker of the Claude chatbot wrote in a press release.

The move puts Anthropic and OpenAI in a race to become the first major frontier AI lab to tap public markets, as investor appetite for AI infrastructure and all things SpaceX remains hot into early June.

It's "worth noting: filing first ≠ pricing first a confidential draft S-1 starts the SEC clock but sets no date," CNBC reporter Deirdre Bosa pointed out on X.

worth noting: filing first ≠ pricing first

a confidential draft S-1 starts the SEC clock but sets no date https://t.co/EY8X4Q4y8N

— Deirdre Bosa (@dee_bosa) June 1, 2026

The Polymarket bet "Will Anthropic or OpenAI IPO first?" shows that the confidential S-1 filing was a surprise to prediction markets.

Anthropic's confidential S-1 filing was a surprise to prediction markets https://t.co/08PxrLSOXG pic.twitter.com/TivykIBSZb

— zerohedge (@zerohedge) June 1, 2026

The surprise news comes four days after Anthropic raised $65 billion at a $900 billion valuation, nearly tripling its prior valuation and potentially surpassing OpenAI as the most valuable frontier AI lab.

That round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia, with additional participation from major investors including Baillie Gifford, Blackstone, Brookfield, Abu Dhabi’s MGX, and Singapore’s Temasek.

The funding comes shortly after Anthropic released Claude Opus 4.8 and follows a prior $30 billion raise at a $350 billion valuation just three months earlier.

The Anthropic-OpenAI race to IPO comes as SpaceX is targeting an IPO for June 12, or next Friday, with shares expected to trade on the Nasdaq under the ticker symbol SPCX.

Just last month. 

OpenAI plans to file for IPO confidentially as soon as Friday: CNBC pic.twitter.com/mlSdYl05XG

— zerohedge (@zerohedge) May 21, 2026

With the flurry of mega IPOs on deck, Goldman has the answer to whether markets can absorb all the incoming supply (read report).

Tyler Durden Mon, 06/01/2026 - 12:40

US Moves To Further Restrict China's Access To Advanced AI Chips

Authored by Evgenia Filiaminova via The Epoch Times,

The U.S. Department of Commerce has issued new guidance to prevent Chinese companies from obtaining advanced U.S. artificial intelligence (AI) chips, such as Nvidia’s most sophisticated Blackwell processors, through overseas subsidiaries.

The May 31 guidance clarifies that export licenses are required for entities headquartered in China or Macau, regardless of where their affiliates are located.

The U.S. Commerce Department’s Bureau of Industry and Security (BIS) said that licensing requirements for advanced computing items destined for China- or Macau-headquartered entities were first established in November 2023 and remain in effect.

The agency said the requirement applies even when those entities are located outside China or Macau.

The clarification follows confusion over a May 2025 announcement by the BIS that it would not enforce certain parts of the Biden-era AI diffusion rule.

The rule was designed to restrict sales of advanced AI chips to strategic rivals while allowing broader access for U.S. allies.

The BIS said the policy change did not remove existing licensing requirements for exports involving Chinese or Macau-based customers, meaning companies must still obtain licenses unless an exemption applies.

The guidance also states that legitimate data center operators can continue to use, maintain, store, or replace advanced AI chips and equipment they already own.

The clarification does not require companies to shut down or remove existing systems.

Nvidia’s sales of advanced AI chips to China remain subject to U.S. export controls.

The Trump administration created a framework in 2025 allowing certain chips, including the H200, to be sold to approved Chinese customers under Commerce Department oversight.

Trump said in a Dec. 8, 2025, post on Truth Social that sales would be permitted subject to a 25 percent fee benefiting the U.S. government and limited to approved Chinese customers.

President Donald Trump (L) shakes hands with Nvidia CEO Jensen Huang as they discuss investing in America, at the White House on April 30, 2025. Jim Watson/AFP via Getty Images

An Nvidia spokesperson told The Epoch Times that the BIS guidance doesn’t impact its business.

It “simply reaffirms that NVIDIA’s current sales and vetting process is correct — licenses are required to ship controlled products to [China] headquartered companies,” the spokesperson said.

The Epoch Times reached out to AMD, another major supplier of AI chips, for comment, but did not receive a response by publication time.

Analysts Warn of Potential Gap

Former U.S. State Department official Chris McGuire, who focuses on technology and national security issues, said in a May 31 post on X that the ambiguity surrounding BIS enforcement may have enabled overseas subsidiaries of Chinese firms to legally acquire advanced U.S. AI chips without export licenses.

“Chinese companies have been buying these chips, very likely at scale,” McGuire wrote in the social media post.

He argued that the lack of clarity about which export controls remained in effect created an opening that may have allowed subsidiaries of Chinese firms operating in countries such as Malaysia to purchase Nvidia’s Blackwell processors.

McGuire said the new BIS guidance appears to close that pathway by making clear that exports to China-headquartered companies outside China still require licenses.

Nvidia CEO Jensen Huang eats a bowl of noodles on a street in Beijing on May 15, 2026. Jiang Panpan via AP/Screenshot via The Epoch Times

He said that BIS has not clarified whether it will enforce due diligence requirements that apply to semiconductor foundries such as Taiwan Semiconductor Manufacturing Co. (TSMC) when assessing whether advanced AI chips could ultimately benefit Chinese companies.

“This is a massive loophole that still needs to be closed,” McGuire said.

The Epoch Times reached out to TSMC for comment but did not receive a response by publication time.

Michael Sobolik, a senior fellow at Hudson Institute specializing in U.S.–China relations, raised enforcement concerns.

“This looks like an apparently MASSIVE loophole at the Department of Commerce,” Sobolik said in a May 31 post on X.

Quoting McGuire’s analysis, he questioned the effectiveness of export controls if they are not consistently enforced.

Tyler Durden Mon, 06/01/2026 - 12:30

The Prince Of Darkness's Shadow Phone: Mandelson's Refusal Exposes Starmer's Transparency Farce

Peter Mandelson spent much of the past four decades at the center of British power: New Labour architect, Blair-era fixer, former cabinet minister, lobbyist, peer, and one of Westminster's most notorious survivors. Oh, and he was sliding Jeffrey Epstein actionable inside info. 

His old nickname, the "Prince of Darkness," was never subtle. It captured both his political skill and the suspicion that Mandelson was most comfortable operating where influence, money, and private access overlap.

Today, Ministers released more than 1,500 pages - three bulging volumes of emails, handwritten notes, and more than 160 pages of WhatsApps - in what they billed as "unprecedented transparency" over Mandelson's disastrous stint as Britain's ambassador to Washington. And of course, guess what: Mandelson flat-out refused to hand over his personal phone, and that's pretty much that. Cabinet Office solicitors formally requested access on March 31; he declined to comply. The government admitted it had "no further recourse."

MP David Davis called this a "National Security Issue." 

So the twice disgraced, Epstein-tainted, and forever scheming – was handed one of Britain's most sensitive diplomatic jobs despite flashing red lights. Now, even as Keir Starmer's government tries to publish its way out of scandal, the most important communications may remain exactly where Mandelson wants them: out of sight.

Vetting Catastrophe

In January of 2025, UK Security recommended denying Mandelson high-level clearance given concerns over his web of contacts in China, Russia, and Israel, a £1m loan linked to an Israeli startup, and his lobbying firm Global Counsel's sticky client list. Epstein ties added "general reputational risk." Foreign Office officials overruled the recommendation the next day with scant written mitigations. Starmer claims he was never properly briefed – calling it "unforgivable." Top FCDO mandarin Olly Robbins soon departed.

Yet, Starmer gave Mandelson the job anyway. A handwritten note to then-Foreign Secretary David Lammy oozed confidence: the government would "never regret" appointing him. MI6's former chief warned him about email hacking risks. He dangled a Peter Thiel meeting for Starmer. And embassy officials noted Donald Trump coveting a personalized red ministerial box.

The Epstein Nexus: Money, "Best Pal," and Police Heat

US DOJ releases earlier in 2026 supercharged the scandal: roughly $75,000 in payments from Epstein to Mandelson and his partner around 2003-04, continued contact after Epstein's 2008 conviction, including stays at his properties, and allegations of sharing market-sensitive UK information during the financial crisis. Mandelson called Epstein his "best pal" in old correspondence. He denies wrongdoing, but the revelations triggered his sacking, a Met Police misconduct probe, his February 2026 arrest, and searches. The full 9-page UKSV report remains withheld at police request.

BREAKING: Peter Mandelson has been arrested on suspicion of misconduct in public office, the Metropolitan Police has saidhttps://t.co/CAU6JMk4vg

📺 Sky 501, Virgin 602, Freeview 233 and YouTube pic.twitter.com/Hgl7kPXEpa

— Sky News (@SkyNews) February 23, 2026

As the Guardian noted in February, emails forwarded to Epstein from the very top of the UK government include:

• A confidential UK government document outlining £20bn in asset sales.
• Mandelson claiming he was “trying hard” to change government policy on bankers’ bonuses.
• An imminent bailout package for the euro the day before it was announced in 2010.
• A suggestion that the JPMorgan boss “mildly threaten” the chancellor.
• Epstein asked Mandelson to confirm a €500bn bailout – which the then business secretary said would be announced that evening. The following day, Mandelson also appeared to give Epstein an early tipoff about Gordon Brown’s resignation.

"he was a great FX trader" https://t.co/1U0adiK71z

— zerohedge (@zerohedge) February 2, 2026

The real fireworks are in the texts. Mandelson, ever the insider-outsider, talked extensive shit about the people he served: 

• Starmer's leadership: "advance / buckle / advance / buckle." No 10 was "beleaguered and bereft," not "leading from the front."
• To Pat McFadden: Labour MPs were in a "mutinous state." Government priorities boiled down to "who can we tax in order to pay benefits to others." The "big picture is messy."
• Pensions minister Torsten Bell echoed the chaos: everyone treating policy as "someone else's job."

Ministers curried favor. Mandelson dispensed unsolicited advice. The documents paint a dysfunctional WhatsApp government where spin, access, and personal networks trumped discipline.

The fallout has already claimed Morgan McSweeney, the chief of staff who backed the appointment, and communications director Tim Allan. May's local election drubbing saw more than 90 Labour MPs demand Starmer's head. Greater Manchester mayor Andy Burnham – running in the Makerfield by-election on June 18, 2026 – lurks as the obvious challenger if Starmer falters further.

Opposition parties smell weakness. The saga encapsulates elite impunity: a veteran operator with a rap sheet of past resignations handed a plum post despite every warning light flashing. Mandelson's refusal to surrender his personal phone only fuels the suspicion that the official record is not the full record.

Tyler Durden Mon, 06/01/2026 - 12:15

U.S. Oil Reserves To Dry Up Before August?

LIVE NOW:

****************

As oilprice.com asked earlier this week, why hasn’t oil hit $150 (yet)?

Tonight at 7 PM ET, ZeroHedge will host two former Goldman heavyweights to answer the question: is the recent oil price surge merely a temporary geopolitical shock, or are we entering a period of structurally higher energy prices?

Joining the discussion are former colleagues Jeff Currie, now chief strategy officer for energy pathways at the Carlyle Group, and Arjun Murti, Partner at Veriten. The conversation will be hosted by Real Vision's Ash Bennington.

After five potential deals to re-open the Strait of Hormuz and none resulting in a full resumption of traffic, Currie’s betting that it won’t be different this time:

On @cnbcAsiaTV this morning, @CommodMkt said, "Sell The Tweet, Buy The Molcule." Currie detailed that Trump tweeted five times that the war was effectively over, but it has not happened.

The chart shows my guess of the five times. Currie is correct. If you bought the crude oil… https://t.co/XosPN03Nm4 pic.twitter.com/ipdgaNXYqE

— Jim Bianco (@biancoresearch) May 25, 2026

Interesting highlight by Jim Bianco: “If you bought the crude oil collapse every time Trump said the war is over, you made $58, even though the price is only up $27 since the war started.“

Even if it is different this time, Currie has argued that global oil markets were already facing structural supply shortages before tensions with Iran escalated, with years of underinvestment leaving the system increasingly vulnerable to disruptions. In his view, the current conflict has simply accelerated a trend that was already underway, bringing forward a period of sustained higher oil prices that many investors have yet to fully appreciate.

Strait closure + baked in supply constraints, he says, could mean American storage tanks run dry as soon as July 4… just in time for the big 250 celebration.

"I've never seen anything like it before."

Oil storage tanks in the United States will run empty "somewhere in the July 4 period," Carlyle's Jeff Currie tells @flacqua https://t.co/vHoZcNL6ur pic.twitter.com/06RRdr6LqP

— Bloomberg (@business) May 6, 2026

Murti likewise remains bullish oil. Last October, he joined ZeroHedge for a debate on the price outlook and argued that crude prices were headed higher… a peaceful time when WTI crude sat at $60/barrell. The months that followed validated Murti so let’s see if that happens again.

Together, Currie and Murti will examine whether current oil prices fully reflect the underlying supply picture, how much of today's rally is attributable to Iran, what role U.S. foreign policy may play going forward, and whether investors should prepare for a prolonged period of elevated energy prices.

See you tonight at 7pm ET, here on the ZH homepage, X feed, or YouTube channel.
 

Tyler Durden Mon, 06/01/2026 - 12:00

Foreign Cargo Ship Struck By 'Massive Projectile' Just Off Iraq

A commercial cargo ship navigating the Arabian Gulf was struck by an unidentified projectile, triggering a "large explosion," according to the United Kingdom Maritime Trade Operations (UKMTO).

The maritime strike took place approximately 65 nautical kilometers (40 miles) southeast of Umm Qasr, Iraq. At this time, the UKMTO noted that it is unaware of any environmental damage resulting from the blast.

Source: UKMTO

Initially Iraqi media reported the blast was due to "mechanical failure" - but soon after other regional media said it was the result of being hit by a "massive projectile".

"A cargo ship was hit by a massive projectile explosion off the coast of Umm Qasr in Iraq, according to Al Hadath, a Saudi-owned channel.

According to another maritime industry source:

Most of the attacks on commercial shipping in the Gulf region since the war in Iran started have been in and around the Strait of Hormuz, the Gulf of Oman, extending as far west as Bahrain and Qatar.

Only one other attack reported off Iraq was on the Greek-owned chemical/product tanker Zefyros and the US-owned Safesea Vishnu on 12 March which left one seafarer dead.

There have also been incidents off Kuwait with Suezmax tanker Sonangol Namibe  anchored 30nm southeast of Mubarak Al Kabeer was hit with a large explosion on 5 March. Kuwait’s Shuwaikh and Mubarak Al Kabeer Port were struck by drones and missiles on 27 March.

Unverified video is already circulating of what's said to be a Panama-flagged container ship:

🇮🇶🇵🇦 A large Panama-flagged tanker has been hit by an explosion in Iraqi territorial waters, according to Al Arabiya. pic.twitter.com/9ENLHfN7By

— DD Geopolitics (@DD_Geopolitics) June 1, 2026

Some areas in the vicinity have reportedly been subject to mine-laying by Iran's IRGC forces, making these waters already highly dangerous.

All of this has taken place as the US-Iran extended ceasefire is potentially breaking down Monday, following a weekend of limited tit-for-tat strikes between each warring side. Iran launched a pair of ballistic missile on a US base in Kuwait, and the US has struck radar and missile sites in Iran.

Tyler Durden Mon, 06/01/2026 - 11:45

Them's Fightin' Words

By Benjamin Picton, Rabobank Senior Market Strategist

Resigned

Brent crude front-month futures are inching higher this morning after ending May down almost 20%. The May selloff has been courtesy of Mr Market’s Pavlovian response to fresh peace rumours, though it still remains the case that a deal has not been done and the Strait of Hormuz remains closed.

US equity indices closed higher across the board on Friday, but Asian stocks are mixed in early trade today. The S&P500 has now had nine-consecutive positive weekly closes and is sitting at a fresh all-time-high, with futures pointed at further gains when markets open later today.
While crude futures are lower, spot prices for Malaysian Tapis crude are proving a little more sticky and are still trading around the levels seen through late May and early April. Singapore gasoil (diesel) spot prices are testing support at $135/bbl, but even at those short-term lows prices are way above the $90.41/bbl recorded on February 26th (the last close before the war started) or the January prices in the high $70s, before the market started to price in what two carrier groups in the Middle East might mean.

Gold prices rose by 0.68% last week. This was the first positive weekly close since May 8th, and another example of markets respecting the $4,500/oz support level. Gold is now trading at levels similar to those seen in late December and early January as a number of central banks liquidated holdings in a scramble for Dollar liquidity earlier in the Hormuz crisis.

Sovereign yields are moving higher this morning after falling for much of last week. US 2-year yields are up 2bps to 4.04% in early trade, Aussie 2s are up 4bps to 4.56%, but New Zealand 2s are curiously flat after a hawkish RBNZ last week and a national budget that showed fiscal tightening will be delayed beyond the 2026/27 financial year. Moves at the longer end are even more pronounced, with 10-year Treasury yields up 3bps to 4.47%.

The shift higher in crude and yields could be a sign of markets beginning to resign themselves to the idea that a deal will remain elusive in the short term. The creep from “any minute now” this time last week to “maybe, or maybe not” is underway. Regular readers will know that RaboResearch updated our baseline view on the Hormuz crisis last week to suggest that the Strait is likely to remain mostly closed through to September as the parties to negotiations find that their red lines over Iran’s nuclear program are (still) incompatible, and the Iranians realise that giving up their oil market leverage would be a foolish thing to do.

A bad sign arrived this morning with the news that Iranian President Pezeshkian had offered his resignation to Supreme Leader Khamenei. Pezeshkian has reportedly claimed that he is unable to run the government and carry out his responsibilities, because the civilian government has been sidelined by the hardliners in the IRGC – the guys with the guns. This is a new angle on the view that various factions in Iran are competing with each other, and that there are large disagreements on how negotiations with the US should be handled, or if they should be happening at all.

Donald Trump raised some eyebrows yesterday when he said that the Iranian military (the Artesh) is ‘moderate’ and had been left alone during American strikes. This places Pezeshkian, foreign minister Araghchi, and possibly parliamentary speaker Ghalibaf (newly re-appointed) alongside the Artesh in the ‘moderate’ camp willing to do a deal, while the IRGC resists agreement with the US and insists on Iran’s rights over Hormuz and the progress of its nuclear program. We think that it will take longer yet before the IRGC sees eye-to-eye with the moderates, and that a continued closure with risks of further strikes is more likely than an agreement that is amenable to all and satisfies Donald Trump’s need to sign something that looks better than Barack Obama’s JCPOA. Of course, it may be the case that the much-maligned JCPOA was maligned for a reason. To paraphrase Solon of Athens, the JCPOA might not have contained the best terms, but it might have contained the best terms all parties could be induced to accept.

While the Hormuz issue drags on, the Ukraine war also continues to percolate and threatens to spread into Europe. Ukraine is deepening cooperation with EU states over drone technology, which has been used to great effect against Russian energy targets in recent months. Meanwhile, a Russian drone reportedly struck an apartment building in NATO member country Romania late last week. 

Former Russian President and close Putin ally Dmitry Medvedev took to X to warn “Citizens of EU countries, You should realize your authorities have unilaterally entered into a war with Russia. So be vigilant and don't be surprised by anything. The peaceful sleep is over...” To quote Yosemite Sam: “them’s fightin’ words”.

Citizens of EU countries, You should realize your authorities have unilaterally entered into a war with Russia. So be vigilant and don't be surprised by anything. The peaceful sleep is over. But you know who to ask why!

— Dmitry Medvedev (@MedvedevRussiaE) May 29, 2026

Clearly the Kremlin is not happy that Europe is continuing to support Ukraine in a conflict that some analysts are now saying has turned in the latter’s favor.

Tyler Durden Mon, 06/01/2026 - 11:30

'Los Gatos Party Mom' Sentenced To 35 Years For Throwing Drunken Teen Parties

Authored by Dylan Morgan via The Epoch Times,

A Los Gatos, California, woman was sentenced on May 28 to 35 years and 10 months in prison, the maximum allowed, for hosting parties for young teenagers where she brought alcohol and egged on sex acts.

Shannon O’Connor, 52, threw these parties for two years and discouraged teens, who were mostly 14 and 15 years old, from telling their parents or police about the parties or calling for help when one of the victims passed out in their own vomit. 

“Many people call this defendant the ‘Los Gatos Party Mom.’ This isn’t some fun parent giving sips of wine spritzers to kids. She facilitated dangerous and drunken sex acts with these children. She risked their lives and damaged their psyches. She is not a party mom. Shannon O’Connor is a convicted felon. Shannon O’Connor is a registered sex offender,” Santa Clara County District Attorney Jeff Rosen said.

O’Connor, also known as Shannon Burga, was convicted of 48 charges, including child abuse charges and two felony sex charges, in March.

Twenty young adults and 41 witnesses testified during the trial.

Thursday’s sentencing followed two days of testimony from the victims on O’Connor’s teen parties she hosted for two years, including one young woman who told the court she became suicidal from trauma induced by the parties.

At one party, O’Connor handed an underage teenager a condom and pushed him into a room with an intoxicated minor. 

At a separate New Year’s Eve party with about five 14-year-olds, O’Connor watched and laughed as a drunk teen sexually battered a young girl in bed.

In another incident, O’Connor brought a drunk teen into a bedroom where an intoxicated 14-year-old girl was lying in bed, according to prosecutors.

After the girl was assaulted, she said to O’Connor, “Why did you leave me in there with him? Like you knew, like what he was going to do to me.”

In another case, O’Connor let a minor drive her SUV in the Los Gatos High School parking lot while two other teens held onto the back, and one was knocked unconscious after falling off.

In some cases, she would text teens or message them on Snapchat to leave their homes in the middle of the night and drink at her house, where she would provide alcohol.

“[O’Connor] endangered their safety, coordinated their sexual assaults, and she tried to get them not to tell,” Rosen said. “These brave kids came forward to tell the truth about what happened and to put a stop to it.” 

Tyler Durden Mon, 06/01/2026 - 11:15

Inside The Major Bill Poised To Reshape The US Housing Market

Authored by Andrew Moran via The Epoch Times,

The United States may be on track to implement the first comprehensive housing legislation in decades.

For the past several years, housing affordability has been a significant subject across the country, with many young people struggling to achieve the dream of homeownership.

Lawmakers on both sides of the aisle have tried to reverse the trend by advancing the 21st Century Renewing Opportunity in the American Dream (ROAD) to Housing Act of 2025.

Here is a look inside the sweeping housing package and the path to passage.

Inside the Act

Although the current administration has examined strategies to expand access to the housing market, the bipartisan legislative initiative aims to bolster supply for middle-class families.

The bill’s main provision is a limit on institutional investors’ purchases of single-family homes.

Both chambers tweaked the proposal.

The Senate approved language that requires major investors who build single‑family rental homes to sell those properties within seven years.

The House’s version still aims to rein in Wall Street’s footprint in the single‑family market, but its latest draft eases the restrictions.

Lawmakers added wider exemptions for institutional buyers of newly constructed rentals, homes needing substantial renovation, and several other categories.

Other measures aim to facilitate more construction, including incentives to build more homes, convert abandoned buildings into housing, and modernize existing homes.

In addition, Washington bolstered eligible income limits for the HOME Investment Partnerships Program, a federal block grant program that state and local governments use to build, maintain, and support affordable housing for low‑income households.

Officials created a Housing Supply Framework to enable best practices in state and local zoning and land use.

The legislative text also expands banks’ authority to make public welfare investments supporting affordable housing. The bill raises the cap for banks’ public welfare investments to 20 percent from 15 percent.

Lawmakers removed the permanent chassis requirement for manufactured homes. The long-standing federal rule required that manufactured homes be constructed on a permanent steel frame to qualify under the federal construction code.

It also includes the Modular Housing Production Act and other reforms to streamline the production of factory-built housing.

There was also some focus on the demand side of the equation. For example, the bill establishes incentives for mortgage lenders to originate small-dollar mortgages—typically less than $100,000—to address the financing gap for low-cost homes. Additionally, Congress updated rules on appraisal standards and fees for these small-dollar loans.

The 21st Century ROAD to Housing Act includes reforms to Veterans Affairs housing policies. The major changes include expanding access to Veterans Affairs home loans, improving consumer protections for borrowers, and enhancing housing support for disabled and homeless veterans.

Congressional Path

Unlike other pieces of legislation, the housing affordability bill has moved quickly through Congress—something that President Donald Trump had requested.

Rep. French Hill (R-Ark.), chairman of the House Financial Services Committee, introduced legislation in December 2025. Two months later, it passed 390–9 in the lower chamber.

As it arrived in the upper chamber, senators made substitutions rather than take up the House bill. The amended legislation passed 89–10 and was sent back to the House, where it passed 396–13.

It will now be delivered to the Senate for final approval.

Senate Banking Committee Chairman Tim Scott (R-S.C.) and Ranking Member Elizabeth Warren (D-Mass.) said the bipartisan housing bill will provide relief for families nationwide.

“We worked closely with the White House and our colleagues in both chambers on a bill that puts families first and addresses the housing crisis,” they said in a May 20 joint statement.

“There’s still work to be done and we are committed to continuing to work with the White House and our colleagues in the House on a housing bill that can pass the Senate and get to the president’s desk.”

What the Industry Says

The housing industry widely lauded Congress for moving ahead with the legislation.

Shortly after the House passed the bill, the National Association of Home Builders noted that it addresses several problems facing Americans today, mainly housing shortages and affordability challenges.

“The bottom line is that the housing crisis is a supply problem,” Bill Owens, the group’s chairman, said in a statement.

“Congress can help by improving access to capital, strengthening workforce pipelines, expanding the availability of buildable lots and reducing excessive regulatory costs and permitting delays.

“If we want to make housing more attainable, we must make it easier and less expensive to build.”

Emily Cadik, CEO of the Affordable Housing Tax Credit Coalition, stated that increasing the banks’ public welfare investment cap to 20 percent will “unlock billions of dollars in new private investment.”

“Additional changes in the updated House legislation will further strengthen our ability to finance more affordable housing to address our nation’s immense need,” Cadik said in a statement.

The House passing the Senate’s amended version would both enhance housing supply and expand access to affordable mortgage credit, said Bob Broeksmit, president and CEO of the Mortgage Bankers Association.

“[The legislation] will help advance meaningful housing affordability solutions for our nation’s homeowners and renters,” he said.

Tyler Durden Mon, 06/01/2026 - 10:30

SpaceX IPO Update: New Filing Reveals Friends & Family Share Allocation, Anthropic AI Deal, And Water Risk

SpaceX has provided fresh details in an amended S-1 filing regarding its upcoming initial public offering, including a directed share program for employees and insiders, a major AI computing agreement with Anthropic, and new risk factors.

The company will reserve up to 5% of shares in its IPO for certain employees and friends and family of its executive officers. The company disclosed that participants on its "friends and family" list will not be subject to a lock-up restriction, allowing them to sell shares immediately upon listing.

While directed share programs are common in IPOs, the lack of lock-up for this group stands out. More than 60% of shares outstanding immediately prior to the offering remain subject to an extended lock-up period, including shares held by founder and CEO Elon Musk.

SpaceX stands as the preeminent launch provider globally, delivering unmatched reliability, cost-efficiency, and launch cadence. As of mid-2026, the company maintains a 100% success rate across dozens of Falcon launches this year and conducts the vast majority of U.S. orbital missions - carrying both commercial and government payloads, including NASA crew and cargo to the ISS as well as national security satellites. SpaceX's Falcon family commands over 80% of the U.S. launch market and the bulk of global mass-to-orbit capability thanks to proven reusability. 

Jeff Bezos's Blue Origin, meanwhile, suffered a significant setback last week, when its New Glenn rocket exploded during a static fire test at Launch Complex 36 in Cape Canaveral. The incident destroyed the vehicle and caused extensive damage to the launch pad - including collapsed lightning towers and ground infrastructure - forcing months of repairs and further delaying the company's entry into heavy-lift competition.

Here's our video of the explosion at Launch Complex 36. It happened about 9 pm ET (0100 UTC) as Blue Origin was beginning a static fire test of its New Glenn rocket.

Watch live views: https://t.co/tm2wZQmAVD pic.twitter.com/PmbgQC6Qmq

— Spaceflight Now (@SpaceflightNow) May 29, 2026

Blue Origin now faces additional hurdles in catching up to SpaceX, particularly as it seeks NASA Artemis contracts and commercial missions for Amazon's Project Kuiper.

Major AI Computing Deal with Anthropic

The amended filing also discloses that SpaceX has an agreement to provide Anthropic PBC with artificial intelligence computing capacity consisting of approximately 325,000 Nvidia chips. The deal is valued at $1.25 billion per month and runs through May 2029. After an initial three-month period, either party can terminate with 90 days notice.

SpaceX noted in its risk factors that some compute service customers may rely on external capital to meet their payment obligations.

New Risk Factor: Water Scarcity?

SpaceX added water scarcity as a formal risk factor. Drought conditions, increased competition for water sources, and potential regulatory restrictions could raise costs or limit the company's ability to cool its data center infrastructure. This reflects growing scrutiny over the high water and power demands of AI data centers.

Bloomberg last week reported that SpaceX is now targeting a valuation of at least $1.8 trillion for the IPO vs. $2T - which Elon Musk said was "false" in response after we surfaced the claim. Either way, the IPO is more or less a major referendum on the AI-fueled bull market.

The company is targeting pricing on June 11 and a trading debut on June 12 under the ticker SPCX on Nasdaq and Nasdaq Texas.

Tyler Durden Mon, 06/01/2026 - 10:15

"Firing On All Cylinders, But..." US Manufacturing Surveys Send Mixed Signals In May

With US hard data taking a beating (relative to expectations) last week (red line below), analysts remain hopeful that US Manufacturing will hold up (durable goods orders were solid) with this morning's Manufacturing PMIs set to signal stability.

• The final May S&P Global US Manufacturing rose to 55.1 (down from the 55.3 flash print) but the strongest since April 2022

• ISM's Manufacturing PMI survey also signaled improvement, up from 52.7 to 54.0 (better than 53.0 expected).

"At first glance, the manufacturing sector seems to be firing on all cylinders but lift the hood and the picture is not so clear," says Chris Williamson, Chief Business Economist at S&P Global Market Intelligence.

The headline PMI has hit a four-year high, with strong factory production growth for a second successive month in response to a further marked upturn in order books, but since the outbreak of war in the Middle East we have seen production and demand buoyed by stock building as companies worry over rising prices and supply difficulties.

This stockpiling was again widely evident in May and makes it hard to take an accurate reading on the underlying health of the manufacturing economy, as growth will cool once this stock build has run its course," Williamson noted.

"The incidence of supply chain delays is the highest since August 2022, with the buying of safety stocks not only adding to the supply squeeze from the closure of the Strait of Hormuz but also pushing prices higher for a wide variety of inputs.

Williamson ends on a more ominous - stagflationary - notes: warning that the resulting steep jump in producer costs sends a worrying signal that broader economy inflation has further to rise in the coming months.

Tyler Durden Mon, 06/01/2026 - 10:08

"Working Better": Saylor Teases BTC Buy After Strategy Sells For First Time Since 2022

Bitcoin is extending its recent weakness overnight (hurt by US-Iran tensions escalating again), trading back below its 100DMA after Strategy (MSTR) sold 32 bitcoin between May 26 and May 31 at an average net price of $77,135 a coin, totaling $2.5 million (disclosed in an 8-K filing on Monday).

Proceeds from the bitcoin sales are expected to be used to fund distributions on preferred stock, the firm said.

This is the first time Strategy has sold bitcoin since December 2022, when the company offloaded 704 BTC, according to onchain analyst Ai Yi.

However, the firm reportedly bought 810 BTC just two days after the sale at a lower price in a tax loss trade.

Strategy now holds a total of 843,706 BTC following the reduction - worth around $61 billion - bought at an average price of $75,699 per bitcoin for a total cost of around $63.9 billion, including fees and expenses.

In addition, for the week, Strategy raised $128.3 million through its at-the-market (ATM) common stock program and allocated a small portion of the proceeds to increase its U.S. dollar cash reserve from $871 million to $900 million.

Anticipated?

The Block.co reports that Strategy's bitcoin sale was anticipated.

Its executives previously said during its first-quarter 2026 earnings call that it may sell some of its holdings to fund dividends for STRC, Strategy's perpetual preferred stock designed to maintain a $100 par value and offer high yields to investors.

Saylor explained then that the sale would eventually help Strategy buy more bitcoin than it would sell to cover STRC's dividends.

He also noted that the firm's current position requires bitcoin to appreciate at 2.3% annually for its existing holdings to cover STRC dividend obligations indefinitely, without selling any common stock.

Today's sale announcement comes shortly after onchain data from Arkham Intelligence showed that Strategy moved roughly 411.6 BTC from its custody account on Coinbase Prime to a cold wallet address on the platform on May 28.

This prompted the odds of Strategy selling bitcoin before the end of 2026 to surge to 84%.

Strategy also noted it has purchased 2.6 times the amount of bitcoin mined in 2026 so far, describing MSTR as a "BitVac."

"Working Better"

But, as CoinTelegraph.com reports, before the 8-K filing was released (but after the actual sales), Strategy chairman Michael Saylor on Sunday signaled the Bitcoin treasury company would be announcing fresh purchases of the cryptocurrency in the coming days.

The social media post comes just days ahead of a proxy vote that depends in large part on retailer shareholders to enable semi-monthly dividend payouts on the company’s STRC perpetual preferred stock.

“Working Better” was Saylor's tweet late Sunday morning to accompany a bubble chart tracking Strategy’s Bitcoin (BTC) purchases over the past nearly six years.

“Working Better” tweet. Source: Michael Saylor

That chart, from Iceland-registered StrategyTracker.com, has been consistently posted by Saylor in the days ahead of news of a purchase by the biggest publicly traded Bitcoin holder.

To be sure, any purchases to be announced will likely reflect the company bought at or below the average cost of previous BTC purchases.

Retail investors pressed to vote on STRC dividend change

Strategy is proposing to pay semi-monthly dividends on STRC, instead of monthly. The company claims that if approved and adopted, it will lead to reduced reinvestment lag, enhanced liquidity, market efficiency and increased price stability.

Just days ahead of the June 7 proxy vote deadline, Saylor and Strategy are pressing retail shareholders to return their proxy votes. On an internal company channel, Strategy’s investor relations team posted a message to all employees concerning the company’s 2026 annual meeting and provided links to the proposals under consideration by shareholders.

Part of message to Strategy employees from internal website. Source: Company filing on Edgar

“The amendment for STRC to pay semi-monthly dividends, needs 50% of all 85M shares outstanding as of April 17, 2026, to pass, which means every single vote counts,” read a May 28 post on Strategy’s verified feed on X.com.

CEO Phong Le posted a video a day earlier thanking STRC shareholders for their trust.

“I wanted to personally walk you through the proposed amendment and what it means for you,” he said as an introduction to the minute-and-a-half video.

Retail investors have shown limited interest in casting proxy votes. A November research note from The Harvard Law School Forum on Corporate Governance revealed data that showed retail investors have consistently voted only about 29% of their owned shares during the past five proxy voting seasons. Institutional holders have voted about 77%.

A Cyclical Bottom?

Bloomberg's Andre de Silva writes that while a steep record daily capital drain in US Bitcoin ETFs exposes immediate fatigue, past precedent suggests that such severe capitulation frequently cleanses short-term positioning and signals a cyclical bottom for the digital asset.

AI infrastructure and semiconductor equities have attracted the most attention, but because Bitcoin typically retains its status as a high-beta proxy for broader risk appetite during macro expansions, this temporary diversion of capital suggests that a classic catch-up rally remains on the table.

The initial euphoria surrounding US Bitcoin ETFs has cooled, giving way to an unprecedented streak of redemptions. Investors pulled $2.96 billion from the funds over 10 consecutive trading sessions to close out May, according ETF providers. That culminated in $2.4 billion in total net outflows for the month. This sharp reversal stands in contrast to the preceding two months of healthy institutional demand, which saw combined inflows of over $3.3 billion across March and April. The late-May selling pressure spared no one, with BlackRock’s usually resilient IBIT hit by a near-record single-day redemption following a massive off-exchange block trade.

This capital flight highlights a stark divergence recently between digital and traditional risk assets.

While global stock benchmarks like the S&P 500, Nasdaq, and Asia’s top indices such as the Kospi scale new heights, Bitcoin has decoupled from the broader market rally.

Even the prospects of supportive regulation have failed to arrest the slide. This includes the Senate Banking Committee recently advancing the landmark Clarity Act to establish a formal crypto market framework, an initiative that Polymarket prices with a 55% chance of being officially signed into law this year. Instead, capital is aggressively migrating toward memory chip and semiconductor companies and, as indicted by David Savage, including Asia, leaving Bitcoin looking sluggish by comparison.

Beneath the surface, this purge of the ETF channel acts as a reliable contrarian indicator.

Historically, when US Bitcoin ETF flows hit these types of extreme negative troughs, they frequently coincided with local market bottoms.

Similar washouts during early 2025 preceded sharp, multi-month recoveries once institutional selling hit exhaustion.

While crypto sentiment has dropped into ‘Fear’ territory according to the Alternative.me Crypto Fear and Greed Index, which is a multi-factor market sentiment tracker, this cleansing of overleveraged or short-term positions might be exactly what the digital asset needs to reset and build a sustainable floor.

Tyler Durden Mon, 06/01/2026 - 09:50

Key Events This Week: Jobs Report, JOLTS, ADP, ISMs And Fed Speakers

The key event for markets outside of Iran (which is once again front and center following news that Iran is halting all exchange of messages with the US in protest of Israeli crimes in Lebanon) will be Friday’s US May employment report. Economists forecast a notable moderation in payroll growth compared with the relatively strong pace seen earlier in the spring. Headline nonfarm payrolls are expected to rise by around consensus 89k, down from 115k in April, while private payrolls are forecast at roughly 89k after 123k previously. This slowing partly reflects expectations that hiring in sectors that have been particularly strong in recent months – notably transportation and warehousing, as well as retail trade – begins to cool. Unemployment is expected to remain steady at 4.3% (consensus also 4.3%). 

Ahead of Friday’s jobs report, the rest of the US labor market data flow should reinforce the Federal Reserve’s growing confidence that labor market conditions are stabilizing. Tomorrow, the April JOLTS report will shed light on the gross hiring and separation flows that underpinned last month’s solid net job gains. On Wednesday, the ADP private payrolls report is forecast to show a gain of around 118k, up from 109k previously, consistent with the strength seen in ADP’s high-frequency indicators. On Thursday, weekly initial jobless claims are expected to remain relatively low, although there is scope for a temporary uptick to around 220k, partly reflecting seasonal distortions associated with the Memorial Day holiday period. 

Beyond the labor market, the focus will also be on whether recent resilience in US economic activity is sustained. Today, the May manufacturing ISM survey is forecast to rise to around 53.0 from 52.7 in April, supported by encouraging signals from regional Fed surveys. Later in the week, Thursday’s services ISM is expected to edge higher to roughly 53.9 from 53.6. That said, the backdrop for consumer spending remains mixed. Elevated petrol prices and tariff-related increases in core goods inflation are emerging headwinds, and economists therefore expect tomorrow’s unit motor vehicle sales to remain broadly flat at around 16.0 million annualized.

Alongside the data, Federal Reserve communication will be closely watched. On Wednesday, the Fed will publish its Beige Book, offering anecdotal evidence on economic conditions across districts. Fed speak is scattered through the week but it's mostly from officials who have spoken recently so it shouldn't break new ground. 

Outside the US, Europe will see several important inflation releases. Today, the ECB publishes its consumer expectations survey, providing an update on household inflation views. Tomorrow, the Eurozone releases its flash CPI estimate for May, following national releases over recent days and today. Further inflation data are due on Thursday from Switzerland and Sweden, adding to the regional picture ahead of upcoming central bank meetings.

Central bank speakers are also in focus outside of the Fed. ECB President Lagarde is scheduled to speak on Thursday, while Bank of England Governor Bailey appears multiple times through the week, including tomorrow, Thursday and Friday. In Asia, Bank of Japan Governor Ueda is due to speak on Wednesday.

In China we've already had most of the PMIs over the weekend and this morning (see more above) but the private sector services PMI is out on Wednesday. In Japan, Friday brings labour cash earnings data. Our Chief Japan economist expects wage growth to slow to around 2.5% year on year, from 2.8% previously. Elsewhere in the region, Australia releases its Q1 GDP figures on Wednesday.

Finally, the corporate earnings calendar is also busy, with several high-profile releases. In the technology sector, results are due from Broadcom, Palo Alto Networks and CrowdStrike during the week, while consumer-focused names reporting include Inditex, Dollar General and Lululemon Athletica. See the day-by-day calendar at the end as usual for a fuller week ahead preview. 

Source: Earnings Whispers

Courtesy of DB, here is a day-by-day calendar of events

Monday June 1

• Data: US May ISM index, April construction spending, China RatingDog manufacturing PMI, Japan Q1 Ministry of Finance’s financial statements statistics of corporations, Italy May manufacturing PMI, new car registrations, budget balance, Eurozone April M3, unemployment rate, Canada May manufacturing PMI, Switzerland Q1 GDP
• Central banks: ECB’s consumer expectations survey, ECB’s Schnabel speaks, BoC’s Rogers speaks
• Earnings: Meituan, HPE

Tuesday June 2

• Data: US April JOLTS report, May total vehicle sales, UK April net consumer credit, M4, Japan May monetary base, France April budget balance, Eurozone May CPI
• Central banks: Fed's Kashkari and Hammack speak, BoE's Bailey and Greene speak
• Earnings: Palo Alto Networks, Dollar General

Wednesday June 3

• Data: US May ADP report, ISM services, April factory orders, China RatingDog services PMI, UK May official reserves changes, Italy May services PMI, Eurozone April PPI, Canada Q1 labor productivity, May services PMI, Australia Q1 GDP
• Central banks: Fed’s Beige Book, Fed’s Barr and Logan speak, ECB's Elderson and Cipollone speak, BoJ's Ueda speaks
• Earnings: Broadcom, Inditex, Crowdstrike, Medtronic 
• Other: OECD economic outlook

Thursday June 4

• Data: US initial jobless claims, UK May new car registrations, construction PMI, Eurozone April retail sales, Switzerland May CPI, Sweden May CPI
• Central banks: Fed's Daly speaks, ECB's Lagarde speaks, BoE's Bailey speaks
• Earnings: Ciena, Lululemon Athletica

Friday June 5

• Data: US May jobs report, April consumer credit, Japan April labor cash earnings, household spending, leading index, coincident index, France April current account balance, trade balance, industrial production, Italy April retail sales, Canada May labour force survey
• Central banks: BoE's Bailey and Dhingra speak, BoE’s DMP survey

Looking at just the US, Goldman writes that the key economic data release this week is the employment report on Friday. There are several speaking engagements with Fed officials this week, including events with Governor Barr and Presidents Kashkari, Hammack, Logan, Barkin, and Daly.

Monday, June 1 

• 09:45 AM S&P Global US manufacturing PMI, May final (consensus 55.3, last 55.3)
• 10:00 AM ISM manufacturing index, May (GS 53.5, consensus 53.0, last 52.7): We estimate that the ISM manufacturing index increased by 0.8pt to 53.5 in May, reflecting convergence to the level implied by regional manufacturing surveys—our manufacturing survey tracker increased by 0.2pt to 54.9 in May.
• 10:00 AM Construction spending, April (GS +0.3%, consensus +0.3%, last +0.6%)

Tuesday, June 2 

• 01:50 AM Minneapolis Fed President Kashkari (FOMC voter) speaks: Minneapolis Fed President Neel Kashkari will participate in a panel discussion at the 2026 Bank of Korea International Conference. On May 29, President Kashkari—who dissented from the implicit easing bias in the April FOMC’s post-meeting statement along with Presidents Hammack and Logan—said that “it’s premature to conclude we need to be raising rates right away,” adding that “we need to keep watching the data and how the conflict in the Middle East unfolds before I want to make any adjustments.”
• 08:30 AM Cleveland Fed President Hammack (FOMC voter) speaks: Cleveland Fed President Beth Hammack will speak on monetary policy in a moderated Q&A at the City Club of Cleveland. Speech text and audience Q&A are expected. On May 7, President Hammack said that “the statement we put out [at the April FOMC meeting] is that interest rates were on hold, but we have the signal in there that it’s more likely that the next move will be a move down,” adding that she thought “that was a little bit misleading given my view of where the economy is.” She also noted that in her baseline outlook, “interest rates will be on hold for quite some time.”
• 10:00 AM JOLTS job openings, April (GS 7,000k, consensus 6,857k, last 6,866k): We estimate that JOLTS job openings edged up to 7.0mn in April based on the signal from online measures of job postings from Indeed and LinkUp.
• 10:00 AM BLS releases 2025Q4 QCEW data: The Bureau of Labor Statistics will publish the 2025Q4 release of the Quarterly Census of Employment and Wages (QCEW). In the April release for personal income, the Bureau of Economic Analysis noted that downward revisions to compensation through the end of 2025 reflected the incorporation of wage and salary data from the 2025Q4 QCEW, suggesting that the employment numbers from the QCEW are likely to again suggest downward revisions to nonfarm payrolls in the next annual benchmarking.
• 05:00 PM Lightweight motor vehicle sales, May (GS 16.3mn, consensus 16.0mn, last 15.9mn)

Wednesday, June 3 

• 08:15 AM ADP employment change, May (GS +125k, consensus +118k, last +109k)
• 09:00 AM Fed Governor Barr speaks: Fed Governor Michael Barr will participate in a moderated discussion at the Community Developers Bankers Association 2026 Peer Forum in Washington, DC. On May 5, Governor Barr said that “the longer [the war in Iran] goes on, the greater the risk that the inflation we are seeing in these prices becomes embedded in the economy, and then we have to worry more.” He also noted that “we are in a situation right now where we really need to wait and see to understand what direction [the conflict] is going.”
• 09:45 AM S&P Global US services PMI, May final (consensus 50.9, last 50.9)
• 10:00 AM ISM services index, May (GS 54.0, consensus 53.9, last 53.6): We estimate that the ISM services index edged up to 54.0 in May. Our non-manufacturing survey tracker increased slightly in May but remained below the latest ISM services reading (+0.5pt to 52.8).
• 10:00 AM Factory orders, April (GS +5.3%, consensus +4.5%, last +1.5%)
• 02:00 PM Fed releases Beige book, June meeting period: The Fed’s Beige Book is a summary of regional economic anecdotes from the 12 Federal Reserve districts. The Beige Book for the April FOMC meeting period noted that overall economic activity increased at a slight to modest pace in eight of the twelve Federal Reserve Districts, with two Districts reporting little change and two reporting slight to modest declines. In this month’s Beige Book, we will mainly look for anecdotes related to how consumers and firms are responding to the increase in energy prices from the conflict in the Middle East.
• 04:00 PM Dallas Fed President Logan (FOMC voter) speaks: Dallas Fed President Lorie Logan will participate in a moderated conversation at the University of Texas at El Paso. Moderated Q&A is expected. On May 1, in a statement explaining her dissent from the implicit easing bias in the April FOMC’s post-meeting statement, President Logan said that she was “increasingly concerned about how long it will take inflation to return all the way to the FOMC’s 2% target.” She also noted that “the conflict in the Middle East raises the prospect of prolonged or repeated supply disruptions that could create further inflationary pressures.”

Thursday, June 4 

• 08:30 AM Initial jobless claims, week ended May 30 (GS 220k, consensus 211k, last 215k); Continuing jobless claims, week ended May 23 (consensus 1,778k, last 1,786k)
• 08:30 AM Nonfarm productivity, Q1 final (GS +0.6%, consensus +0.5%, last +0.8%): Unit labor costs, Q1 final (GS +1.7%, consensus +2.5%, last +2.3%): We estimate that nonfarm productivity growth will be revised down by 0.2pp to +0.6% quarterly annualized in the second release for 2026Q1. Since 2019Q4, labor productivity has grown at an annualized rate of 2.1%, a much stronger pace than the 1.5% average pace in the pre-pandemic cycle. We estimate that unit labor costs—compensation divided by output—will be revised down by 0.6pp to +1.7%.
• 08:30 AM Richmond Fed President Barkin (FOMC non-voter) speaks: Richmond Fed President Tom Barkin will speak in a fireside chat at the Belmont Country Club in Ashburn, Virginia. Moderated Q&A with audience is expected. On May 21, President Barkin noted that “with inflation above our 2% target for five years now, it’s worth asking whether the cumulative impact of so many waves risks loosening the anchor [for inflation expectations].” He added that he sees policy as “well positioned” to manage risks to both the labor market and inflation.
• 01:10 PM San Francisco Fed President Daly (FOMC non-voter) speaks: San Francisco Fed President Mary Daly will speak in a conversation at the Bloomberg Technology Summit in San Francisco. Moderated Q&A is expected. On May 29, President Daly said that “there is no urgency to make a [policy] adjustment,” as “policy is in a good place.” She added that “we need to know when the war ends and how oil prices behave afterwards” before considering further policy changes.

Friday, June 5 

• 08:30 AM Nonfarm payroll employment, May (GS +60k, consensus +89k, last +115k); Private payroll employment, May (GS +65k, consensus +89k, last +123k); Average hourly earnings (MoM), May (GS +0.4%, consensus +0.3%, last +0.2%); Unemployment rate, May (GS 4.3%, consensus 4.3%, last 4.3%): We estimate nonfarm payrolls increased 60k in May. On the positive side, layoffs remained low between survey weeks. On the negative side, the big data indicators of job growth we track slowed and we expect a 5k decline in government payrolls—reflecting a 10k decline in federal government payrolls that is partly offset by a 5k increase in state and local government payrolls. We estimate that the unemployment rate was unchanged on a rounded basis at 4.3% in May. On one hand, continuing claims declined further between survey weeks. But on the other hand, the May unemployment rate appears to suffer from modest positive residual seasonality (the unrounded unemployment rate has increased in each of the last three Mays by an average of 0.12pp) and the bar for rounding up to 4.4% is not high from an unrounded 4.34% in April. We estimate average hourly earnings rose 0.4% month-over-month in May, reflecting positive calendar effects.
• 12:00 PM Fed Governor Barr speaks: Fed Governor Michael Barr will speak on supervision and regulation at the Kogod School of Business in Washington, DC. Speech text and moderated Q&A with audience are expected.

Source: DB, Goldman

Tyler Durden Mon, 06/01/2026 - 09:41

Moderna Snags $50 Million Ebola Vax Contract

Moderna is receiving up to $50 million to accelerate the development of an Ebola vaccine, as the virus continues to spread in the eastern Democratic Republic of Congo.

The funding is coming from global health organization ​CEPI, which told Reuters that it was possible to bring the vaccines to trial phase within a couple of months. 

CEPI said it would also invest up to $8.6 million for a shot developed by the University of Oxford and manufactured by the Serum Institute of India, and an initial $3.2 million for a vaccine developed by the International AIDS Vaccine Initiative. -Reuters

"Every day counts in the race against this deadly disease," said Richard Hatchett, head of CEPI, adding that the vaccines are on "a not infinitely distant horizon."

That said, Hatchett also cautioned that vaccine development can be unpredictable, plus there's a 'challenging security situation' in eastern Congo that might make trials complex - which, includes (most recently) locals setting fire to an Ebola treatment center after they were stopped from retrieving the body of a dead man. 

The crowd set fire to two tents fitted with eight beds run by a medical charity called The Alliance for International Medical Action (ALIMA), said Deputy Senior Commissioner Jean-Claude Mukendi, head of the public security department in Ituri Province.

Mukendi said the youths had not understood the protocols for burying a suspected Ebola victim.

“His family, friends, and other young people wanted to take his body home for a funeral even though the instructions from the authorities during this Ebola virus outbreak are clear,” Mukendi said. “All bodies must be buried according to the regulations.”

So far there have been 282 confirmed cases and 42 deaths in the recent outbreak, and around 1,100 suspected cases, according to the African CDC and the World Health Organization.

Beyond the DRC, nine cases have been confirmed in Uganda, including one death.

Two weeks to stop the uncontrollable anal bleeding and 50% chance of death? 

Tyler Durden Mon, 06/01/2026 - 09:30

IBM Soars On Resurfaced Trump Clip, Barclays Buy Rating As MoMo Rally Accelerates

IBM shares jumped as much as 15% in premarket trading after Bloomberg described a recirculated video of President Trump stating that the stock is "going to go up a lot more."

The clip, reposted by Polymarket Money on Saturday evening, appears to have fueled another leg higher in what has already been an eye-popping, multi-week rally.

In the clip, dated December 10, Trump boasted that IBM CEO Arvind Krishna had "taken the stock from a rather low price to a very nice price."

"I won't say high because I'm sure you're going to say it's going to go up a lot more," Trump added.

Trump says $IBM is “going to go up a lot more.”pic.twitter.com/KgzV0qy19j

— Polymarket Money (@PolymarketMoney) May 31, 2026

IBM logged the largest monthly gain in May since October 2002.

Another overnight catalyst was Barclays analyst Raimo Lenschow, who initiated coverage of IBM with an Overweight rating and a $350 price target.

Lenschow said that IBM has built a more stable growth engine around its defensive software portfolio, adding that the bull case goes well beyond quantum computing hype.

Earlier today, UBS analyst Robert Ruple provided clients with a few reasons for the recent bounce in software stocks:

Persistent AI enthusiasm has driven one of the strongest two months of performance on record for the S&P with Tech/S5INFT up 14.3% m/m, shrugging off the US/Iran stalemate and stubborn inflation. While semiconductor stocks remain the clear leaders with SOX up 81% in 2026, a key question emerging late week is what's driving the rebound in software, which was up 9.9% w/w, which appears to be extending into Monday morning, tied to comments from Nvidia CEO Jensen Huang pushing back on the "Saaspocalyse" concerns (Bloomberg).

Software flows on the desk were slightly better to buy late last week, albeit skewed towards those in the consumption bucket on limited supply but based on what the UBS prime brokerage desk has seen, most of the price action has leaned in favor of covering.

Clearly the solid beat/raise from Snowflake catalyzed the sector to an extent, but aside from a handful of disappointments, most of the results were largely inline to better than feared. That said, many of the recent software laggards have quietly outperformed of late, with presumably some level of rotational forces at play. Also, a couple of people Friday claimed there was heavy retail buying in software because social media caught on to President Trump's purchase of ServiceNow stock, which is bit odd because this was disclosed back on May 15. Additionally, part of the move in IBM on Monday is being attributed to a video of Trump praising the company's CEO (Bloomberg) and discussing the stock back in December that was recirculated via social media.

In a recent note, Citi analyst Fatima Boolani said that IBM's software and hardware remain deeply embedded "across the most critical points of the world's largest, most complex IT infrastructures."

Tyler Durden Mon, 06/01/2026 - 09:15

Nvidia CEO Declares AI PC Reinvention A "New Beginning" On Par With Smartphone Shift

Nvidia CEO Jensen Huang delivered the keynote address on Monday at GTC Taipei 2026, outlining the next evolution of AI compute.

Huang's presentation included updates on the Vera Rubin platform, a new lineup of Windows PCs developed with Microsoft for AI workflows, the launch of an enterprise agent toolkit, and next-generation AI infrastructure systems to accelerate data-center and agentic AI adoption.

A team of Goldman analysts, led by James Schneider, attended GTC Taipei 2026 and shared the top takeaways with clients.

Schneider had three key investment takeaways:

First, Nvidia (with Microsoft) is pursuing its traditional PC TAM more aggressively, which we believe could help drive some momentum for Windows on ARM (which has been extremely slow to date) given a concerted push with software partners.

Second, Nvidia continues to push its advantage in datacenter-level performance and cost leadership as a key differentiator relative to competitors - which we think should allow it to maintain competitive dominance at all but the largest hyperscalers.

Third, Nvidia is aggressively investing to drive the adoption of agentic AI across developers and ecosystem partners, and its Vera Rubin revenue ramp remains on track.

Here's more color on those takeaways:

Vera Rubin update: Nvidia announced that it is now ramping full production of its Vera Rubin platform, with multiple rack-scale systems (NVL72 GPUs, Vera CPUs, Groq 3 LPUs, BlueField storage, Spectrum-X networking) contributing to AI factory designs. The company highlighted that Vera GPUs are purpose-built for agentic AI use cases, with up to 1.8X the performance of X86 systems and 10X agent throughput vs. Blackwell. We expect a materially steeper revenue ramp for Rubin (beginning in 3Q) relative to Blackwell given meaningful manufacturing efficiencies and greater total capacity. In addition, the company highlighted its DSX AI Factory reference platform, which helps customers optimize their AI datacenters to bring operations up faster, while optimzing power consumption and system uptime.

New lineup of Windows PCs with Microsoft targeting AI workflows: Nvidia, in collaboration with Microsoft and Mediatek, launched a new Windows-based PC platform targeting AI workflows. The RTX Spark product combines a Blackwell RTX GPU with a 20-core Grace GPU (co-designed with Mediatek) using NVLink to deliver a high-performance PC experience optimized for AI applications - which we expect to be targeted at the premium segment of the market. OEM partners will launch laptop, desktop, and workstations systems beginning this fall, with launch partners including ASUS, Dell, HP, Lenovo, Microsoft, MSI, Acer and Gigabyte.

Launch of Enterprise Agent Toolkit. Nvidia announced a series of new software releases targeting agentic AI use cases in the enterprise, including NemoClaw, Nemotron 3 Ultra, OpenShell, and CUDA-X Agent Skills.

Physical AI announcements: Nvidia launched new versions of its open Cosmos (v3) frontier model targeting multi-modal reasoning, and Alpamayo (v2) which is targeted as a reference platform for self-driving cars. The company also announced its first open reference design for humanoid robots, based on its Isaac Gr00t and Jetson Thor hardware platform.

"The PC is being reinvented," Huang said. "For forty years, you launched apps. Click. Type. With RTX Spark and Microsoft Windows, you ask — and the PC does the work. RTX Spark brings everything NVIDIA has built — CUDA, RTX, our AI platform — into a single superchip. Local agents. Frontier models. Creative workflows. RTX games. All on a laptop. This is the new PC. The personal AI computer."

Jensen Huang says the AI PC reinvention is as big as the smartphone shift by calling it “a new line” and “a new beginning.”$NVDA and $MSFT unveiled RTX Spark which will be the world’s most powerful deskside AI supercomputer built to run next-gen AI agent workloads locally. https://t.co/aUTBmJ3a5G pic.twitter.com/oz21vosT5S

— Shay Boloor (@StockSavvyShay) June 1, 2026

Nvidia shares rose 2.5% in premarket trading in New York after Huang's comments outlined that the company was entering the PC market with a new chip.

Arm ADRs soared 12% as traders viewed Nvidia's PC push as supportive of the Arm ecosystem. However, the announcement pressured incumbent processor stocks, with Intel sliding 6%, Qualcomm down 9.5%, and AMD falling 3.5%.

Schneider is "Buy" rated on NVDA with a 12-month price target of $285. This is based on a 30X P/E multiple applied to his team's normalized EPS estimate of $9.50. 

Meanwhile, overnight, Intel announced a new AI chip, code-named Crescent Island, expected to hit the consumer market by the end of the year, according to the Financial Times.

"We decided to start rebuilding our muscles in AI . . . [but] we are not particularly aiming for [the training market] based on past experience," said Kevork Kechichian, who leads Intel's data center group.

The AI chip race is accelerating, with today's biggest news being Nvidia's move to reinvent the PC market with a new AI chip.

Tyler Durden Mon, 06/01/2026 - 08:55

Aww... Look At The Cute Dancing-Robot Police-State Surveillance-Dog...

Authored by Steve Watson via Modernity.news,

Boston Dynamics’ Spot robot dogs are being deployed at designated World Cup venues in the US to perform perimeter security inspections, prompting concerns over the advance of surveillance tech.

The company has stated that the machines “will be used to assist security personnel with investigating things like suspicious packages or other potentially hazardous materials.”

These four-legged fiends are set to roam, and even dance (oh how cute) around AT&T Stadium in Dallas and other FIFA sites ahead of the 2026 tournament, sending live feeds back to human teams with their 360-degree cameras, thermal sensors, acoustic pickups, and AI anomaly detection.

These are the new Boston Dynamics Spot robots deployed in Dallas for the 2026 FIFA World Cup

They are being used for security at World Cup venues in the Dallas area

Their jobs include:

- Perimeter security inspections
- Assisting with suspicious packages or hazardous materials… pic.twitter.com/rLsl2wnFuA

— Wall Street Apes (@WallStreetApes) May 30, 2026

“The robots do not have facial recognition capabilities,” a Boston Dynamics spokesperson told WFAA, insisting they spot unauthorized people in restricted zones without utilising facial scans for now, after a viral TikTok video made the claim.

Hyundai, the South Korean owner of Boston Dynamics and major FIFA sponsor, added the bots “will support on-site security operations, helping contribute to a safer tournament environment.”

But peel back the puppy-like head tilts and choreographed spins and you see the real rollout: tireless mechanical sentries normalizing constant surveillance on American soil. They look fun today at the soccer spectacle expecting half a million visitors. Tomorrow the same platforms patrol streets, malls, and events nationwide, always watching, always recording.

This isn’t some isolated gimmick. It’s fast becoming commonplace in cities such as Atlanta, where robot security dogs prowl apartment complexes and parking lots issuing verbal commands to citizens.

Recent videos show residents greeting the units politely and complying instantly – only for the bot to still summon real police anyway. The voice responding through the speaker carries a clear foreign accent. Speculation is rife that the live operators controlling these machines and watching every feed sit thousands of miles away in India.

Another viral clip captured locals staring down the mechanical intruder with a classic line that perfectly summed it up.

These aren’t fully autonomous terminators yet. Real people – often overseas – sit at consoles staring at your every move through the robot’s eyes and ears, deciding when to hit the siren or dial American cops on you.

Your privacy, your neighborhood, your compliance all funneled through foreign call-center eyes. Data stored, analyzed, potentially shared who-knows-where. Ordinary citizens get lectured by a machine whose controller doesn’t even live in the country.

The same quadruped platform that dances cutely for World Cup selfies or patrols Atlanta lots is already being militarized abroad. Just weeks earlier, footage emerged of China unleashing machine-gun-toting robot wolves engineered with a shared “collective brain” that lets them hunt and coordinate in simulated street battles.

These pack-hunting death machines storm positions, clear entire urban blocks in minutes, and spare human troops the risk while turning dissent or resistance into target practice. Non-military versions are even for sale to civilians.

While American cities outsource low-level enforcement to remote foreign operators who record and report on citizens, China turns the same tech into lethal swarms ready for real conflict.

The cute dancing dog at the stadium today carries the same sensors and mobility as tomorrow’s enforcer. Denials about “no facial recognition” ring hollow when software upgrades and off-the-shelf AI can bolt it on. The hardware is already here. The willingness to expand its role grows every time the public shrugs and scrolls past another viral clip.

While this tech supposedly keeps big events “safe,” everyday Americans already endure open-border chaos, rising crime in blue cities, and government agencies that treat citizens as the threat. Surely the real priority should be securing the actual border, deporting criminals, and backing law enforcement that answers to voters – not handing patrol duties to remote-operated spy dogs whose operators answer to foreign paychecks.

Once these machines become commonplace, backed by endless camera grids and AI flags, the slide into a permission-based society accelerates. Move along when the robot says so. Stay out of the restricted zone it defines. Don’t question the system streaming your life overseas.

The dancing bots are a warning, not a toy. Freedom means rejecting the slow normalization of this dystopian show on American streets. Push back now, demand human accountability and constitutional limits, or watch the cute dancing routine quickly morph into a demand for compliance.

Yeah, I saw that episode of Black Mirror...

...it didn't go so well. pic.twitter.com/DYymNOLaBE

— Deaconbluezzz (@Deaconbluezzz66) April 12, 2026

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Tyler Durden Mon, 06/01/2026 - 08:35