Axios

Anthropic is now pacing to generate more than $100 billion in annual revenue, up 50% from just two months ago, the New York Times reported Friday.

Why it matters: The company's growth is accelerating at almost unfathomable rates as it heads for what could be the largest initial public offering in history.

WASHINGTON — Proposed changes to ease corporate reporting rules and the growing use of AI are fueling a broader debate over what safeguards are needed to maintain trust in the U.S. financial markets, financial reform and regulatory experts said at an Axios event.

Why it matters: Federal regulators, lawmakers and advocates are debating how much oversight is needed — and what form it should take — amid significant deregulation efforts.

Axios' Courtenay Brown spoke with Better Markets co-founder, president and CEO Dennis Kelleher and Public Company Accounting Oversight Board chair Jim Logothetis. The Sept. 16 event was sponsored by the Center for Audit Quality.

What they're saying: Kelleher raised concerns about a proposed Securities and Exchange Commission rule change, which would eliminate quarterly reporting requirements, potentially undermining public confidence in the financial system.

• "I think the implications for investors, markets and our capital system is actually pretty serious, and people should pay attention to it," Kelleher said.
• Logothetis said less-frequent reporting would not be "that big of a deal" for his organization, which oversees auditing of U.S. public companies.

AI's integration across industries, including auditing, still warrants human expertise to effectively use the technology, Logothetis said.

• "An audit is part science and part art," he said, but the art piece "involves professional skepticism, it involves judgment."
• Kelleher called for a "people-centered AI agenda" and warned against pursuing "a profit-maximization AI agenda," criticizing the Trump administration's hands-off approach to AI.

Zoom in: Debate over financial oversight also extends to crypto. The Clarity Act, a bill aimed at establishing a clearer regulatory structure for the sector, failed to advance in a procedural Senate vote this week.

• Kelleher, who has criticized the legislation backed by President Trump and the crypto industry, said the sector requires more robust guardrails, "not phony regulation, which is what the industry is proposing."

Content from the sponsor's segment:

During a View From the Top conversation, president and CEO of the American Institute of CPAs Mark Koziel said using AI in auditing requires another layer of human oversight to ensure accuracy and public trust.

• "We could trust AI to a degree, but that verification will always still need to take place," Koziel said.

California Gov. Gavin Newsom, a presumptive presidential candidate, is getting louder on AI, releasing an executive order amid the Washington stalemate.

Why it matters: Democrats with national profiles this week are seizing on AI alarm, making their positions clear and Newsom – despite some deference shown to other 2028 contender Kamala Harris – wasn't going to sit this one out.

Meta's Muse is rocketing up the app charts with a distinctly practical vision for AI — an agent that can shop, haggle, cancel subscriptions and clear away the digital drudgery of everyday life.

Why it matters: Mark Zuckerberg is staking Meta's AI comeback on one of the enduring strengths of his internet empire: making new technology feel native to billions of ordinary people.

A host of industry players, policy wonks and businesses are grappling with the question of how to regulate AI in a trustworthy manner.

• Inside the White House, it's mostly business as usual.

Why it matters: The industry's mad dash is the product of an ad hoc regulatory apparatus and a general consensus that swift action from Washington is unlikely in the near term.

WASHINGTON — Lawmakers agree that consumers shouldn't fund the massive power needs of AI data centers. They're less aligned on whether Congress will actually stop that from happening.

Why it matters: The AI boom is colliding with an aging grid and long waits for new power projects — forcing policymakers to figure out how to add power fast without sticking households and businesses with the bill. Data centers are also emerging as one of this midterm cycle's most volatile political issues.

Podcaster Joe Rogan says he has a "crazy hope" for AI: Turn government and foreign-policy functions over to it — potentially including decisions about military conflicts — in hopes of ending war.

The big picture: Rogan's comments land in the middle of an intensifying debate over how much control humans should surrender to increasingly powerful AI systems.

Over the past decade, lithium-ion batteries have transformed how we live, work and travel, ushering in the era of the Rechargeable Society.

Okay, but: As battery technology expands into the connected home, self-driving systems and grid infrastructure, everyone across the supply chain must build in safety. This will allow innovation to thrive and ultimately earn public trust and allow for society to anticipate failures before they turn into major headlines.

An unprecedented wave of AI-powered, human-driven cyberattacks is coming, security experts say — and it's a far more urgent risk than theoretical scenarios in which AI wipes out humanity.

Why it matters: The great September AI panic — which spread from boardrooms to Congress to American households in the last week — may have missed the point.