Axios PM

October 21, 2026
🐪 Good Wednesday afternoon. Today's newsletter, edited by Alex Fitzpatrick, is 613 words, a 2½-min. read. Thanks to Sheryl Miller for copy editing.
1 big thing: AI gets better at hacking vital systems

It's only a matter of time before freely available AI models will make it easier to hack critical services like power grids and water systems, Axios' Sam Sabin reports from new research.
- Steve Swick, former top security executive at American Electric Power, told reporters during a briefing: "It's a clock that is moving faster than we've ever seen."
💧 Researchers at cybersecurity firm Frenos tested 10 AI models' ability to plan attacks against industrial systems, such as software that monitors water treatment processes.
- The models were fed information about potential hacking targets, and were asked to piece together the steps needed to achieve specific objectives.
Three out of the 10 models successfully constructed attack plans in about 90% of attempts.
- Frenos did not disclose the names of the AI models tested.
👾 Frenos co-founder and CTO Harry Thomas says that once attackers gain access to an industrial network, AI could help them quietly map out systems and identify weaknesses without the same time constraints facing human hackers.
- "AI doesn't have the problem with patience. It doesn't need to eat. It doesn't need to sleep, and it doesn't need to use the restroom."
2. 💸 Musk merger math


The potential SpaceX-Tesla merger took an orbital leap forward yesterday, with Elon Musk calling it "a good idea" and both companies forming special committees to discuss a deal, Axios' Dan Primack reports.
- Such a deal would be the largest corporate tie-up in history.
📈 By the numbers: SpaceX ended the day yesterday with a $1.95 trillion market cap, making it the country's seventh most valuable company.
- Tesla landed in 11th place with a $1.48 trillion market cap.
- Shares of both companies are up sharply today.
The bottom line: Musk cautioned that saying a merger will definitely happen is "overstating it," but he tends to move very fast once he gets the transactional truck rolling.
3. ⚡️ Catch me up

- 🥾 Southeastern Arizona's Chiricahua (cheery-cow-uh) is officially the country's first new national park in six years. Interior Secretary Doug Burgum said: "Chiricahua's towering rock spires, rich Apache heritage and remarkable biodiversity make it one of America's most extraordinary landscapes." Go deeper.
- 🇮🇱 Democratic congressional nominee Brad Lander of New York was among about 80 activists detained by Israeli security forces today in the West Bank. Lander, who said he was later released, wrote on X: "We were simply harvesting olives in a grove near Nehalim in the West Bank. The occupation is a crime under international law. Harvesting olives isn't a crime under any law I know." Go deeper.
- 🗳️ Cook Political Report shifted Minnesota's Senate race from "Likely Democrat" to "Lean Democrat," showing the contest between Lt. Gov. Peggy Flanagan (D) and former NFL broadcaster Michele Tafoya (R) is tighter than expected. Go deeper.
- 🎤 "SNL" star Kenan Thompson said he would have a candid conversation with Shane Gillis if he returned to host after Gillis' controversial monologue. "I don't know him to be a mean person necessarily," Thompson said at the Axios Media Trends Live event in Manhattan yesterday. "But yeah, if he were to come back, I'm sure we would have a conversation of, like: 'How do you think that went?'" Go deeper.
4. ☄️ 1 for the road: Meteor shower alert

The Orionids meteor shower — one of the best of the year — peaks overnight tonight.
- The annual shower comes as dust left by comet 1P/Halley burns up in Earth's atmosphere.
🔭 With dark enough skies, stargazers can expect to see at least 10–20 meteors an hour.
- The Orionids are known for especially bright, streaky fireballs.
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