Axios

Equity investors largely yawned Monday at warnings about AI wiping out humanity, suggesting traders aren't pricing in an existential threat.

Why it matters: AI leaders are increasingly sounding the alarm about the pace of AI development and risks of uncontrolled superintelligence, saying that the U.S. government and China should agree to a slowdown.

Republicans have condemned, sidestepped or continued to support two Texas GOP nominees after one's racist post this weekend about students of color and another's years of vulgar comments about women sparked backlash.

The big picture: In a fiercely heated midterm election, some candidates' racist, sexist and crude material online hasn't always been enough to cost them their party's support.

• Warning: This story includes crude, sexually explicit language that may disturb some readers.

Sequence Holdings and DFO Management (Michael Dell's family office) on Monday announced an agreement to acquire Baldwin Insurance Group for $7.7 billion.

Why it matters: This is an AI spin on insurance industry consolidation, which is moving fast and furious.

President Trump agreed to a concession that could pave the way for Congress to pass the Clarity Act, a sweeping cryptocurrency bill that has been under debate for much of Trump's second term, per reports Monday.

Why it matters: Senate Democrats have held up the House-passed legislation, arguing that it needs stronger safeguards to prevent Trump and his family from benefiting financially.

Anthropic is still likely to go public in 2026, even as AI safety rockets into the zeitgeist, multiple sources tell Axios.

The big picture: A lot has changed in AI land since last week, but the IPO calendar isn't one of them.

Three of the biggest names in streaming on Monday announced the formation of a policy coalition to advocate for their interests on key issues.

Why it matters: Over the past year, government regulators have scrutinized sports leagues moving their rights to streaming, prompting streamers that aren't attached to broadcast networks to come together to advocate for their shared interests.

The escalating war with Iran and rising energy costs helped push up borrowing costs across the U.S. economy last week. Stocks largely yawned.

Why it matters: It suggests that investors think it will take more than higher interest rates to slow the engine powering much of the market.

There's a warning about the financial system in the last chapter of William Cohan's new book, "Money to Burn: The Unvarnished Truth About Leon Black, Apollo, and the Rise of a New Wall Street."

The latest: When asked in an interview on Slate's "Money" podcast this weekend if Apollo Global Management, which had more than $1 trillion under management as of the second quarter, could trigger a financial crisis, Cohan said: "Absolutely, yes."

We're facing a new AI threat: the ability of competitors — and haters — to instantly and cheaply copy our work.

Why it matters: Good ideas can be copied by shittier but still useful AI knockoffs faster than we can possibly improve them.

I believe that mainstream media is only marginally useful for understanding AI.

• I'm going one giant step further: You need an X AI-only feed to truly keep up with this new tech, model advancements, business moves and political posturing.
• To me, X is 1000x more timely and relevant than the New York Times or the Washington Post on this topic.

I've compiled a useful list of more than a dozen people to follow on X to keep tabs on various biz-related AI angles.

Need a reading recommendation? "The Calamity Club" was last month's most-borrowed e-book on Libby, the library app tells Axios.

State of play: Author Kathryn Stockett's bestseller explores poverty and friendship through the eyes of two outcast women in 1930s Mississippi.