Doing the Math in DC: Senators Thom Tillis & Elizabeth Warren 6/3/26

A week out from the SpaceX IPO, WSJ business columnist Tim Higgins discusses the interest from retail investors. While the Nasdaq plans to fast track SpaceX’s entry into the Nasdaq 100 index, the S&P will not be fast tracking the company into its own marquee index. CNBC’s Robert Frank reports on the major wealth that the IPO will generate for SpaceX employees and of course, for Elon Musk. Plus, the Senate has voted to pass a reconciliation package that approves immigration funding. Anthropic is urging its fellow AI labs to slow down AI’s development. Rep. Lori Trahan (D-MA) and Rep. Jay Obernolte (R-CA) are part of a bipartisan group of lawmakers drafting AI legislation. Happy National Donut Day!   Leslie Picker - 9:25 Reps. Lori Trahan & Jay Obernolte - 21:16 Robert Frank 31:27 Tim Higgins 35:56   In this episode: Leslie Picker, @LesliePicker Robert Frank, @robtfrank Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Noted value investor Guy Spier first gained the public's attention in 2007 when he and a partner paid just over $650,000 at a charity auction to have lunch with the world's most famous investor, Warren Buffett. Spier launched his fund Aquamarine in 1997, following closely to Buffett’s principles, but closed it down in early 2026 and returned money to investors following a diagnosis of the brain cancer glioblastoma. He tells Becky Quick how facing the end of his life taught him the true meaning of value.   Check out Guy Spier’s podcast and videos: https://www.youtube.com/@GSpier12 Read his newsletter: https://www.guyspier.com/   Join us in advancing awareness and understanding of rare diseases. Visit CNBC.com/Cures to access clips, resources, or to sign up for our weekly newsletter.    Learn more about rare disease – and what to do in a diagnosis – at the National Organization for Rare Disorders: https://rarediseases.org/   Follow Becky Quick on X: @BeckyQuick   Please share your thoughts or rare disease story in the comments, and join us on The Path. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Andrew Yang, founder of the Forward Party and CEO of Noble Mobile, discusses taxing AI as concerns mount about its impact on resources and the labor market. A screw worm was found in Texas, and JPMorgan CEO Jamie Dimon is reportedly pitching the SpaceX IPO to wealthy clients, and the U.S. House of Representatives approved a resolution to end military action in Iran. Plus, “The Social Network” author Ben Mezrich has written a new book: “Checkmate: Genius, Lies, Ambition, and the Biggest Scandal in Chess.” He recounts the cheating scandal, the “bad boys of chess,” and the big money–and growing fanbase of the game.    Eamon Javers                 7:47 Andrew Yang                 19:57 Ben Mezrich           32:54    In this episode: Andrew Yang, @AndrewYang Eamon Javers, @eamonjavers Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the Senate Banking Committee room, Senator Thom Tillis (R-NC) and Senator Elizabeth Warren (D-MA) weigh in on Todd Blanche as acting Attorney General and Bill Pulte’s new appointment as acting Director of National Intelligence, and the concept of taxes on AI. Senator Warren does the math on wealth taxes, and Senator Tillis underscores his position with the President. Gearing up for retirement, Sen. Tillis is saying the quiet part out loud–directly to his own party. Plus, Cigna has dropped coverage of GLP-1s for its own employees, CBS has fired veteran correspondent Scott Pelley after a heated meeting about the direction of the network under Bari Weiss, and President Trump has signed an executive order on AI.    Emily Wilkins - 12:42 Sen. Thom Tillis - 17:44 Sen. Elizabeth Warren - 32:23   In this episode: Sen. Elizabeth Warren, @SenWarren Sen. Thom Tillis, @SenThomTillis Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In Washington, D.C., U.S. Trade Representative Jamieson Greer stops by the Squawk set to discuss trade and tariff strategy. Shortly after news broke of a potential tariff on Brazil, Ambassador Greer references his office’s investigations into unfair trade practices. CFTC Chairman Michael Selig is in DC as well, addressing his own role in regulating prediction markets. In corporate news, Anthropic is going public, Google plans to raise $80 billion to fund its AI build-out, short-seller Andrew Left was found guilty of securities fraud, and Senator Bernie Sanders has a pitch for national AI ownership: the American AI Sovereign Wealth Fund Act.    Dan Murphy - 15:37 Jamieson Greer - 20:09 Michael Selig - 29:48   In this episode: Michael Selig, @ChairmanSelig Dan Murphy, @dan_murphy Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Andrew Ross Sorkin breaks a scoop: Barry Diller’s People Inc. is preparing a bid for MGM Resorts. Meanwhile, Nvidia is jumping into PCs, Blue Origin’s rocket explosion has delayed progress at the company, Berkshire Hathaway is buying Taylor Morrison, and CNBC’s Dan Murphy reports on new waves of strikes in the Middle East. Director of the University of Minnesota Center for Infectious Disease Research and Policy Dr. Michael Osterholm issues a warning about the United States’ ability to manage an Ebola outbreak. Plus, Boardroom co-founder and CEO Rich Kleiman discusses the Knicks and what the team’s success means for media ratings, MSG, and owner James Dolan’s reputation.    Dan Murphy - 11:06 Dr. Michael Osterholm - 23:17 Rich Kleiman - 36:49   In this episode: Dan Murphy, @dan_murphy Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

As concerns about AI’s impact on the labor force mount, lawmakers including Rep. Greg Casar (D-TX) are considering taxes on AI to fund federal job programs. Rep. Casar discusses AI-driven layoffs and the obligations of the government during a tech revolution. Ahead of the annual ASCA meeting, Johnson & Johnson CEO Joaquin Duato discusses his company’s innovations in oncology treatment, as well as the FDA’s leadership. Plus, the team dives into the other morning headlines: shares of Dell are soaring on the company’s AI server revenues, and a Blue Origin rocket exploded on the launch pad.    Joaquin Duato & Angelica Peebles - 17:05 Rep. Greg Casar - 33:20   In this episode: Rep. Greg Casar, @RepCasar Angelica Peebles, @angelicapeebles Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The CFTC is moving to withdraw its $5 million penalty against the crypto exchange founded by the Winklevoss twins, a Google staffer in Europe has been charged with fraud over his bets on Polymarket, New York City’s pied-a-terre tax will take effect in July, Fertitta Entertainment is buying Caesars in a $17.6B deal, and drone strikes continue in the Middle East, despite a ceasefire. Thanks to the tech sector, markets are on the rise, but Sanctuary Wealth Management’s Mary Ann Bartels is reading for a shift–eventually. Plus, New York City is buzzing with the first Knicks NBA final since 1999. Self-proclaimed “psycho fan” Gary Vaynerchuk discusses the eye-popping courtside ticket prices at MSG, pent up demand, and the power of paid media…when coupled with social media virality.   Mary Ann Bartels - 12:35 Gary Vaynerchuk - 24:38   In this episode: Gary Vaynerchuk, @garyvee Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

SpaceX is gearing up for its IPO, sparking debate about the company’s governance and its potential fast track to the Nasdaq 100 index. Investor Nell Minow, chair of ValueEdge Advisors, shares her concerns about SpaceX’s fundamentals. This year, the Tribeca Film Festival has accepted a fully AI-generated film entitled, “Dreams of Violets.” Tom Rogers, executive chairman of the production company Fountain 0, believes AI studios offer more opportunities for independent filmmakers. The film’s director Ash Koosha points to new roles for workers with traditional production skills. Plus, Trump-endorsed Texas AG Ken Paxton defeated Sen. John Cornyn in the Republican Senate primary, and Micron has topped $1 trillion in market value.  In this episode: Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The CDC has expanded U.S. airport screening for the Ebola virus; former FDA Commissioner Dr. Scott Gottlieb discusses risks of outbreak, as well as the potential uses for GLP-1s in cancer treatments. Author of “The Infinite Machine” Sebastian Mallaby discusses Pope Leo XIV’s encyclical on AI, where humanity fits into global innovation, and the risks of unregulated technology. Plus, Uber and Lyft drivers in Massachusetts have formally unionized, Ferrari has released its first fully electric vehicle, and tensions are high in Iran.   Sebastian Mallaby - 14:28 Dr. Scott Gottlieb - 24:09   In this episode: Sebastian Mallaby, @scmallaby Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.