Hey there weekday warriors,

Today we’re taking a look at the xAI-Dell tie-up and checking in on Elon in Cannes.

Enjoy the next 4 minutes and 2 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

- tyler

PS, markets were closed yesterday, so pretty lite newsletter today (“I’LL GiVe eVerYOnE a FeW mINutEs BAck”)

Dude, you’re getting a Dell

Move over Cheesecake Factory…

Dell is cutting the ribbon on its AI “Factory.”

The company best known for making Gateway its b*tch, is partnering with xAI, the maker of Grok.

Elon’s version of OpenAI is partnering with Dell for the server racks that will help power xAI’s supercomputer.

X Æ A-12’s confirmed the partnership on Twitter. He also added that xAI would be working with Super Micro Computer. Gotta spend that $6B it raised somehow…

Separately Michael Dell, the founder of… Dell… said the company was building what he called an “AI factory” alongside Nvidia for Elon. And by that he means a sh*t ton of Nvidia chips and Dell servers in one very big, expensive room.

Unfortunately for Dell, markets weren’t open to take advantage of arguably the biggest W since signing the “Dude, you’re getting a Dell” guy.

+ Whatever X CEO Linda Yaccarino is making, it is definitely not enough…

Remember that time Elon told advertisers who didn’t want to spend on Twitter “Go f*ck yourself”? Welp, in Cannes this week he is doing his best to spin zone the comments.

Elon’s excuse for dropping the f-bomb? “First of all, it wasn’t to advertisers as a whole. It was with respect to freedom of speech.”

+ Ilya Sutskever, OpenAI’s co-founder and former Chief Scientist, announced his new company, which will prioritize safety over ‘commercial pressures.’ And if there’s any easier way to get VCs to not answer your emails, I don’t know what it is…

Safe Superintelligence will focus on creating safe AI systems... whatever that actually means.

You might recall Ilya left OpenAI after being part of the board that ousted Sam Altman. He reportedly also butted heads with Sammy Scale-at-all-costs about AI’s darker side and what the ChatGPT maker was doing about it.

+ “Ladies and gentlemen… we got him.” - the United Kingdom

England has done the unthinkable: won a major football tournament defeated inflation. The Office for National Statistics said the UK’s inflation hit the Bank of England’s target (2.0%) in May. Probably just a coincidence that it’s the last print before national elections…

The BoE meets today, and at least some analysts believe there’s an outside chance of a rate cut.

+ Sure, your mom is great, but is she “buy a 15% stake in the Brooklyn Nets” great?

Julia Koch, the billionaire wife of the late David Koch is buying a large minority stake in the NBA team with her 3 kids.

And owner Joe Tsai is putting on a clinic. He paid ~$3.3B in total for the team and will sell the stake to Koch at a valuation north of $6B. Now just imagine if the Nets were good…

+ Imagine not capitalizing on a Taylor Swift endorsement…

Golden Goose, the maker of the incredibly popular (and expensive) Super-star sneakers, said it’s pumping the brakes on its IPO. The reason? The European market conditions are more distressed than its overpriced shoes.

+ No, Boomers Didn’t Have It Easier Than Millennials When Buying Their First Homes (Read)

+ Here’s How Much Typical Homeowners Could Pay in Interest Alone in Every State (Read)

+ Want more real estate news & insights? Check out The Pocket List. It’ll keep you up to date on the industry with one goal: helping you make more money. Check out last week’s newsletter and subscribe for free with one click (Read & subscribe)

⏪ Yesterday, markets were closed for Juneteenth.

⏩ Here’s what we’re keeping an eye on today…

+ Accenture, Kroger, Darden, and Aurora Cannabis report before the bell

+ Algoma Steel and Smith & Wesson drop earnings after the close

+ DoorDash and eBay hold annual meetings

Yesterday, I asked, “You have to invest your entire portfolio in one of the following (Henrik Fisker’s next company or DJT stock). Which is it?”

DJT took the W with 65.4% of the vote.

Here’s today’s question…

2000s mall staple Limited Too is relaunching…

Before you go…

Does this look like the face of a guy you should take financial advice from?

No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...

This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.