Oracle's Earnings Miss Just Reminded Everyone That AI Capex Is a Bet, Not a Guarantee
Oracle posted quarterly earnings this week that beat expectations but delivered revenue below Wall Street estimates—$16.06 billion compared to the...
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Writing Team
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Jun 29, 2026 6:29:59 AM
The most expensive AI policy fight in congressional history just ended in a Manhattan primary, and both sides are claiming they won. They're both right, which is the most unsettling possible outcome.
Assemblymember Micah Lasher defeated AI regulation champion Alex Bores in New York's 12th Congressional District on Tuesday, in a race that Politico reports attracted more than $27 million in outside spending — most of it directly tied to the AI regulation debate. Think Big, a super PAC backed in part by OpenAI leadership and Andreessen Horowitz, spent $8 million against Bores. Pro-regulation super PACs with ties to Anthropic and crypto billionaire Chris Larsen spent more than $19 million to boost him. Bores lost by a whisker in a six-candidate race in one of the wealthiest, most educated districts in the country.
Neither side has a clean read on what that means.
Bores authored New York's RAISE Act, one of the first state-level laws establishing meaningful guardrails for AI systems. That made him a target. The tech-backed super PAC network Leading the Future framed its spending as a message to politicians who "stymie innovation" — a framing that didn't fully land, given that Lasher, the winner, was a cosponsor of the same legislation.
In his victory speech, Lasher addressed the AI companies directly: "I won't be taking my cues from either of you when it comes to protecting our kids, our jobs and our families." It was the kind of line that plays well in a room full of primary voters and signals exactly nothing about what comes next in Congress.
The pro-regulation coalition argued the $8 million spent against Bores backfired by turning it into a two-candidate race between the bill's sponsor and one of its cosponsors. That's not spin — it's a reasonable read of how the dynamics played out.
Democratic Rep. Pat Ryan, who endorsed Bores, called it "the canary in the coal mine" and an "opening salvo" — particularly looking toward 2028. Leading the Future is already spending in races across the country. The infrastructure for a sustained political fight over AI regulation is now built and funded on both sides.
What's notable is the ideological incoherence on display. The companies spending to defeat Bores publicly support "smart guardrails." The companies that backed him are building AI products that will, in turn, require regulation. Everyone claims to want responsible AI development. Nobody agrees on what that means under the law, and money is being spent to make sure no one gets too specific too fast.
That's not a conspiracy. It's the normal chaos of a consequential policy debate arriving before the political system has developed the vocabulary to handle it.
The political fight over AI is now funded, organized, and moving into federal races. That matters for anyone building an AI-dependent business or marketing program, because regulation is no longer a distant hypothetical. It is an active, well-capitalized political project being fought out in primaries in the wealthiest districts in the country.
The specific outcomes are hard to predict. What's predictable is that the regulatory environment for AI tools — data use, content generation, consumer disclosure, automated decision-making — will look meaningfully different in 36 months than it does today. Companies that have built their AI marketing programs without considering what compliance might require are taking on risks they haven't priced in.
That's not an argument for paralysis. It's an argument for building AI programs with enough process transparency that a disclosure requirement doesn't necessitate rebuilding from scratch. Know what data your tools are trained on. Know what your AI-generated content actually is. Document the human judgment in your workflow. These aren't just ethical positions — they're the kind of operational clarity that holds up when the rules arrive.
The $27 million spent in one Manhattan primary is a signal, not a verdict. The AI content strategy you're building today will operate in a regulated environment. How ready it is for that depends on the decisions you're making right now.
Winsome Marketing helps growth teams build AI programs that are defensible, transparent, and built for what comes next. Let's talk.
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