Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Rebecca Zisser/Axios

Global investors are pumping money into autonomous driving-related companies, according to data from CB Insights. In the first three quarters of 2018, they have committed $4.2 billion, compared to $3 billion in 2017 and $167 million in 2014.

The bottom line: The promise of autonomous driving has led investors — and automakers — to open their checkbooks wide to ensure they’re part of the future of transportation.

The big picture: The $4.2 billion figure doesn't include all the funds automakers are investing into developing their own new tech. A Brookings Institution report last year estimated that from August 2014 to June 2017, a total of nearly $80 billion was invested in the area by the auto industry and venture capitalists.

The big funding tends to go to companies building a full caror close to it. Developing a brand new car model usually costs companies at least $1 billion, and up to $6 billion.

  • Zoox: The company, which is building a fully self-driving car from scratch, has raised $790 million in funding to date despite still being in the private testing phase of its development.
  • Cruise: As a startup building an autonomous driving system that could be installed in a car, Cruise raised less than $20 million before General Motors acquired it for nearly $1 billion. Since then, it’s expanded to building cars that are natively built to drive themselves (in partnership with GM), and has attracted a $2.25 billion investment from SoftBank ($900 million upfront), and more recently a $2.75 billion investment from Honda ($750 million upfront).

What's next: "Venture investors have begun to target early-stage startups working on specific AV use cases, such as managing a logistics AV fleet or enabling last-mile deliveries, rather than the technology underpinning autonomous mobility," Synapse Partners founder Evangelos Simoudis writes for Axios Expert Voices. "As large-scale AV fleets are deployed, these early-stage startups will become likely targets of the next acquisition wave."

Go deeper: Q&A with Trucks Venture Capital partner Reilly Brennan about the self-driving startup market

Go deeper

AT&T in talks with Discovery to combine media assets

Illustration: Annelise Capossela/Axios

AT&T is in talks with media giant Discovery about merging its media assets, like CNN, TBS and TNT, according to two sources familiar with the discussions.

Why it matters: A potential merger could allow AT&T and Discovery to better compete with entertainment giants like Disney and Netflix in the video streaming wars.

Updated 4 hours ago - Politics & Policy

Franklin Graham worries Trump too old to run in 2024

Graham and Trump at a rally in 2017. Photo: Ralph Freso/Getty Images

The Rev. Franklin Graham says a potential 2024 presidential bid by Donald Trump would "be a very tough thing to do," the prominent Christian leader told "Axios on HBO."

Why it matters: Graham, the president of the Billy Graham Evangelistic Association and Samaritan's Purse, was among Trump's earliest and most prominent evangelical defenders.

4 hours ago - Axios on HBO

Cameo CEO says he would let Trump join platform

Cameo CEO Steven Galanis doesn't want the app he built to be used explicitly for politics, but said he would allow former President Trump on the platform.

  • "Trump has done nothing on our platform to violate our terms of service," Galanis says in an interview with "Axios on HBO" that aired Sunday.

Why it matters: Cameo's approach is different than some of its Big Tech peers.