🏛️Leading the Future Super PAC Network Left With $20 Million After Midterms
Pro-AI money just got a lot more selective
TL;DR
Leading the Future, a pro-AI super PAC network, spent $100 million and has $20 million left after the midterms. It stopped receiving donations in Q2 and Q3, and its riskier races mostly flopped. For developers, it signals that AI money in politics is cooling off.
Leading the Future spent $100 million on the midterms and walked away with $20 million still in the bank. The network's bets were lopsided: it mostly backed safe candidates, which is less a political strategy than an influence play. When it jumped into riskier races, results were not great. Why should you care? Because this is the AI lobby's money machine, and it just hit a wall. The network reported zero donations in the second and third quarters, and its strategy shifted right as polling showed widespread distrust of Big Tech and cronyism in Washington. If you build AI products that touch regulation, procurement, or policy, the people writing those rules are now funded by a shrinking pool. The numbers: $26 million in independent expenditures went to primaries alone. The network spent $10 million total while overwhelmingly backing safe-seat candidates. Through American Mission it backed Republicans in most toss-up House races, and through Think Big it funded Democrat Jared Moskowitz's reelection. What to watch: the network says it wants maximum flexibility for 2026 and beyond, so the $20 million is a war chest, not a retirement fund. Expect it to show up again, just more selectively.

Key Points
Leading the Future spent $26 million on independent expenditures in primaries alone, mostly through 501(c)(4) groups and federal and state super PACs backing both parties.
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