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Good morning. Executives from Anthropic, OpenAI, Google, and Meta sat for sworn testimony before the New York City Council on Monday, in what the Council itself called a rare full-body hearing rather than the usual committee affair. All 51 members showed up to press the companies on the risks their models pose and what kind of local rules might actually rein them in. It's a notable escalation in tone: these are sworn statements, not blog posts or congressional soundbites, and they're happening at the city level rather than in Washington, where federal AI policy has been mostly rhetorical this year. The company representatives weren't the C-suite names you'd recognize, but policy and safety leads empowered to speak for Anthropic's frontier red team, OpenAI's policy shop, and Google's AI policy office, among others. Worth remembering that city councils rarely get this kind of direct, on-record access to the companies building these systems, and what gets said here could shape how other cities approach AI oversight. Below: today's five recent stories across markets, AI, policy, and security.
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№01 · ARTIFICIAL INTELLIGENCE
Nokia CEO Says AI Data Centers Could Be Built Twice as Fast Without Supply Constraints
Nokia CEO Justin Hotard said AI customers would build data centers twice as fast if supply constraints allowed, pushing back on concerns that the industry is overbuilding and arguing that demand for existing AI models alone is sufficient to sustain infrastructure growth.
TechEchelon Staff ·
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№02 · POLITICS
Fairshake Crypto PAC Network Backs 32 House Candidates With $120 Million War Chest in 2026 Midterms
Fairshake and its affiliated super PACs, holding $120.4 million in cash, are backing 19 Republicans and 13 Democrats in 32 House races ahead of November's midterm elections, with at least $1 million committed to six incumbents tied to the stalled CLARITY Act.
Jay Goldberg ·
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№03 · ARTIFICIAL INTELLIGENCE
Anthropic, OpenAI, Google, and Meta Executives Testify Under Oath at NYC Council AI Hearing
Senior leaders from Anthropic, OpenAI, Google, and Meta testified under oath before the New York City Council on Monday at a rare full-body hearing on the risks of advanced AI models and potential legislative responses.
Jay Goldberg ·
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№04 · BUSINESS & FINANCE
Cerebras Stock Climbs 6% After Sam Altman Affirms "Close Partner" Status With OpenAI
Cerebras Systems shares climbed 6.3% in premarket trading Monday after OpenAI CEO Sam Altman called the AI chipmaker a "close partner," partially reversing a 20% plunge triggered by OpenAI's decision to use Nvidia GPUs for its latest AI model.
Jay Goldberg ·
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№05 · BUSINESS & FINANCE
Stock Futures Hold Steady as Elevated Treasury Yields and Fed Minutes Keep Investors on Edge
U.S. stock futures edged up 0.1% Sunday evening as investors monitored elevated Treasury yields and looked ahead to Federal Reserve meeting minutes due Wednesday for clues on the central bank's next rate move.
Marc Sabatini ·
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