FT : Israel is alienating its most important Arab partner

Israel is alienating its most important Arab partner
By holding up a gas deal and accusing Egypt of violations in Sinai, Netanyahu is endangering a vital peace treaty

Israeli Prime Minister Benjamin Netanyahu’s threat this month to block a $35bn gas deal with Egypt is a dangerous miscalculation that threatens to undermine Israel’s most vital Arab partnership. Netanyahu justified halting the agreement by citing supposed Egyptian violations of the peace treaty through military deployments in Sinai — a claim that Egypt denies and which reflects a troubling pattern of manufactured crises designed to pressure Cairo into accepting policies no Egyptian government could ever embrace.

After 46 years of cold peace and generally constructive co-operation, an increasingly hostile wind is blowing from Jerusalem towards Cairo. This represents a profound strategic error at a moment when Egypt already faces intense domestic and international pressure over Gaza.

The allegations against Egypt follow a familiar script. Netanyahu, or unnamed “government sources”, make serious claims about possible violations, the media quickly echoes them, then Likud supporters vehemently defend this position on TV and social media.

Early this year, Israel’s ambassador to the US, Yechiel Leiter, warned Jewish American organisations about alleged offensive weapons that he claimed amounted to “a clear violation” in Sinai, and promised Israel would “very soon and very emphatically” address the supposed Egyptian military build-up. These claims were later debunked by Israeli security officials, who clarified that social media reports about increased Egyptian forces in Sinai were “not correct” and had been “disseminated by rightwing figures for political reasons”.

Egypt’s troop presence in Sinai is monitored continuously — not only by the Israel Defense Forces, but also by the Middle East’s most robust monitoring force. Israeli authorities have arrested two of Netanyahu’s advisers for allegedly unlawful ties to Qatar — and the revelation that Israeli government employees on Qatar’s payroll helped spread anti-Egyptian messaging compounded the crisis, shocking Egyptian diplomats.

The stalled gas deal would provide enormous mutual benefits: increased Israeli gas production, expanded export infrastructure and Egypt’s $400mn investment in pipeline connections. Egypt desperately needs gas for its domestic market, while Israeli companies stand to profit handsomely.

The reason Israeli officials are holding it up lies in Gaza policy — or rather, the absence of a coherent one. They refuse to discuss realistic “day after” plans, instead reciting the empty mantra: “Neither Hamas nor the Palestinian Authority.” This policy vacuum has created space for extremist fantasies, including expecting Egypt to accept Palestinian “voluntary relocation” from Gaza. Leiter previewed this strategy in February and President Donald Trump has suggested Egypt, Jordan, and others should absorb Gaza’s population.

The timing of the gas deal suspension, coinciding with potential Israeli reoccupation of Gaza City, suggests a co-ordinated pressure campaign tied to the so-called “Gaza Riviera” vision. This approach fundamentally misunderstands Egyptian red lines. No Egyptian government will participate in forced Palestinian relocation. Both the security implications and the political costs would be devastating.

Egypt has paid a steep price for maintaining peace with Israel during the Gaza war. Pro-Palestinian demonstrators have attacked Egyptian diplomatic missions worldwide, while Cairo faces criticism for co-operating with Israeli policies. The current trajectory threatens to undermine all co-operation between the two countries. With no ambassadors currently serving in Cairo or Tel Aviv, diplomatic channels are narrowing precisely when expanded dialogue is essential.

The 1979 Israel-Egypt peace treaty remains one of the Middle East’s most successful diplomatic achievements, providing the foundation for broader regional stability. Just this March, Egyptian President Abdel Fattah al-Sisi referred to the accords as “a model to be followed”. But peace agreements require nurturing, not exploitation.

By treating Egypt as a potential dumping ground for unwanted populations rather than a valued partner in regional security, Israel risks alienating the Arab world’s most important country. After the Doha attacks, Egypt could even reassume the chief negotiator role between Israel and Hamas.

Israel’s long-term interests demand abandoning fantasies of Palestinian transfer and recognising Egypt’s legitimate concerns. The gas deal should proceed because it is mutually beneficial — not be used to coerce Cairo into adopting politically unsustainable policies.

>>> Week End Press Digest - 13/09/2025


- CTVA US : Corteva, a $50 Billion Seed-and-Pesticide Maker, Is Exploring a Breakup -- WSJ

- MC FP /EL FP : The battle for Armani: will his anointed suitors swoop on late designer’s empire? - FT

- Medline IPO : Medline readies IPO in coming months in test of investor appetite, Offering seen as signal of whether large private equity groups can begin exiting largest deals - FT

- NESN SW : Nestlé investors call for chair to step down over executive turmoil - FT

- PFE US :Pfizer Is Growing More Reliant on Vaccines as Controversies Swirl, Vaccines could comprise a quarter of Pfizer’s revenue by 2030 as patents expire on other drugs. - Barron's

- 9992 HK : Pop Mart : Labubu has nothing to fear from Wakuku or Lafufu, Pop Mart’s elflike doll has its rivals but the greatest threat may be the temporary nature of viral toy crazes - FT Lex

- 9992 HK :Pop Mart : Labubu May Have Peaked for Now, but Pop Mart Is Here to Stay, With international expansion at a steady pace and a roster of popular artist IPs beyond Labubu, the Chinese blind box and plush toy maker is looking at $4.18 billion in 2025 revenue with ease. - WWD

- SBRY LN : Sainsbury’s in talks to sell Argos to China’s JD.com - FT

- STAL US : Jeep’s Comeback Plan: First, Bring Back the Cherokee, After sales fell and dealers revolted, the company reverses course and revives the popular model - WSJ

- Pharma Sector : US urged UK to offer better drug pricing deal to pharma companies - FT

- EU Merger Reform : Antitrust chief Teresa Ribera under pressure as EU merger reform drifts, Commission’s executive vice-president has yet to lay out policy vision, creating uncertainty for dealmakers - FT

FT : Sainsbury’s in talks to sell Argos to China’s JD.com

Sainsbury’s in talks to sell Argos to China’s JD.com
Supermarket says sale of the general merchandise retailer will accelerate its ‘transformation’

Sainsbury's is in talks with one of China’s biggest retailers about selling Argos, the general merchandise group it bought almost a decade ago.

The supermarket said on Saturday that it was in discussions with JD.com and that a sale would “accelerate Argos’s transformation”.

“JD.com would bring world-class retail, technology and logistics expertise and invest to drive Argos’ growth and further transform the customer experience,” Sainsbury’s said in a statement issued in response to media speculation. The Telegraph first reported the talks. 

Sainsbury’s said a sale would include “commitments from JD.com in relation to Argos for the benefit of customers, colleagues and partners” but added that there was no agreement and no certainty that a sale would take place.

The retailer acquired Argos in 2016 with the takeover of Home Retail Group, but the business has proved difficult at times.

Sainsbury’s 2025 annual report said that double-digit profit growth at the supermarket was “partially offset by lower profits at Argos”, which it valued at £344mn in its most recent accounts.

Sainsbury’s chief executive Simon Roberts is refocusing the retailer on food, but the separation of Argos will probably be complex given the large number of concessions in Sainsbury’s supermarkets following the closure of many standalone stores.

Independent retail analyst Nick Bubb said a sale would be a “disappointing end to the saga”, and the 2016 deal was “very much the idea” of the previous chief financial officer John Rogers. 

“Having closed most of the standalone stores in favour of shop-in shops, I’d have thought it would be difficult to disentangle,” he added.

JD has been aiming to diversify outside China and in July launched a takeover bid for German electronics retailer Ceconomy, in what could be one of the largest Chinese acquisitions in Europe in recent years.

Ceconomy operates more than 1,000 stores across Europe under the MediaMarkt and Saturn brands. JD’s bid, which was backed by management and the supervisory board, values the company’s equity at about €2.2bn.

JD previously considered a bid for UK electronics retailer Currys, but withdrew its interest in March 2024.

Apart from evolving from an online operation into a physical retailer with some 10,000 outlets, JD has expanded into sectors including retail, technology, logistics, and healthcare in China. The Nasdaq-listed company is valued at almost $49bn.

JD has been contacted for comment.

FT : Pressure mounts on Starmer after more details on Mandelson scandal emerge

Pressure mounts on Starmer after more details on Mandelson scandal emerge
Labour MPs question prime minister’s judgment and viability

Sir Keir Starmer is under new pressure over his handling of the Peter Mandelson scandal after government officials confirmed Downing Street knew details of the Labour peer’s emails to paedophile Jeffrey Epstein two days before he was sacked.

Starmer appeared in the House of Commons on Wednesday to express his confidence in Lord Mandelson, in spite of Number 10 and the Foreign Office being made aware of some of the details of the exchanges on Tuesday.

Starmer sacked Mandelson on Thursday morning but the delay in acting has stoked concern among Labour MPs about the prime minister’s judgment and the effectiveness of his Number 10 operation.

Government officials said the delay in acting was caused by the fact that Sir Olly Robbins, permanent under-secretary at the Foreign, Commonwealth and Development Office, was trying to get to the bottom of the affair.

“You can’t just sack someone without asking questions and looking into the issue,” said a government official, adding that Starmer did not see the full email exchanges until they were published on Wednesday evening.

“The emails were reviewed overnight and a decision was taken quickly on Thursday morning that he should be sacked,” said the official. Number 10 officials said Starmer was not aware of the contents of the emails when he spoke at Prime Minister’s Questions on Wednesday.

“Olly Robbins was reaching out and looking into veracity of details and that came back on Wednesday afternoon,” said the official.

Government officials confirmed that the British ambassador to the US relayed to London on Tuesday a media inquiry by Bloomberg that had seen a cache of emails sent to Epstein. The full trove of material was published on Wednesday evening.

While Robbins was conducting his inquiries, Starmer told MPs on Wednesday lunchtime: “I have confidence in him and he is playing an important role in the UK-US relationship.”

Government insiders said Robbins sent questions to Mandelson late on Tuesday evening and that it was not until late on Wednesday afternoon that the peer came back with answers.

They said it was understandable that Mandelson would have wanted to take advice, given the sensitivity of the issues, but that Robbins was growing “impatient” by late on Wednesday afternoon.

Starmer had given a similar vote of confidence in his deputy, Angela Rayner, at the previous week’s round of Prime Minister’s Questions, 48 hours before she was forced to quit in a tax scandal.

The episodes have created a dire, almost funereal mood, among Labour MPs, some of whom are now speculating about whether Starmer can continue as prime minister beyond next summer.

Olivia Blake, a leftwing Labour MP, told the BBC: “I don’t think I’ve known it this bad to be honest.” She said Starmer’s operation had “deep failings” and that the prime minister was losing his grip on the party.

“I just think whoever is gatekeeping the information must get stuff to him much earlier,” she added.

Starmer is now looking to the state visit of Donald Trump next week — once seen as a potential political problem to be managed — as an opportunity to try to get back on the front foot.

The prime minister’s allies said there would be a “lot of investments announced”, including in areas such as artificial intelligence, technology and nuclear, to show that the government had a viable growth agenda.

FT : Antitrust chief Teresa Ribera under pressure as EU merger reform drifts

Antitrust chief Teresa Ribera under pressure as EU merger reform drifts
Commission’s executive vice-president has yet to lay out policy vision, creating uncertainty for dealmakers

The EU’s antitrust chief Teresa Ribera is under pressure to set out her vision for competition policy, with frustrated officials and dealmakers pressing for more certainty over what could be the biggest overhaul of merger rules in decades.

Nine months after taking office with instructions to shake-up merger control to make way for “European champions”, the Spanish socialist has yet to indicate whether she will break significantly from the EU’s traditional antitrust approach.

The lack of clear direction has sown uncertainty over potential deals, according to industry executives and lawyers who are waiting for signs from Brussels before advising boardrooms on investment decisions.

It has also created tension with the team of European Commission president Ursula von der Leyen, who wants industrial policy to help the continent catch up with the US and China’s economic clout.

“Patience is running thin on the lack of clarity,” said one lawyer advising companies on mergers and acquisitions. Another said: “C-suites don’t have the patience to wait for the slow Brussels machine”.

Speaking to reporters at a conference in Florence on Friday, Ribera acknowledged the frustrations but stressed the need to follow a thorough consultation process on reforms.

“I understand the impatience,” she said, adding that she would “work as fast as possible” but also needed to “respect the need to make a proper assessment”.

When Ribera inherited the powerful competition portfolio from Margrethe Vestager, European capitals and executives alike expected it to herald a fundamental shift in EU merger control. Her formal appointment came shortly after Mario Draghi’s landmark report on EU competitiveness, when the former Italian premier and European Central Bank governor called on Brussels to allow more deals that would promote Europe’s innovation drive and consolidate some key sectors.

“Lack of scale and market fragmentation have turned into a major competitiveness and tech sovereignty problem for Europe,” said Alessandro Gropelli, director-general of telecom industry body Connect Europe.

But despite political instructions from von der Leyen to “modernise the EU’s competition policy”, Ribera has moved cautiously. At the same time, her antitrust officials have advocated caution over relaxing merger rules designed to stop consolidation that would harm EU consumers.

To date Ribera has yet to pick a side.

“Ribera is still finding her feet on competition at a time of heightened geopolitical tension between Brussels and Washington”, said Mark Scott of the Atlantic Council think-tank. 

“The implementation of Europe’s new digital antitrust rules has been stuttering, and the competition announcements under Ribera’s tenure have been underwhelming,” Scott said.

Ribera’s team did launch a wide-ranging review of the guidelines accompanying the EU’s merger rules. But it is a protracted process, with a conference in March then leading to a consultation of the new guidelines later next year. Ribera said it is a difficult balance between being “fast enough” and taking all views into account.

In the meantime, Ribera will have merger cases to handle that may give an indication of her views. There is “always a margin for manoeuvre, a possibility for discretion of the competition commissioner,” said Alec Burnside, senior counsel at Dechert. 

Burnside said it was clear that Ribera “has other policy interests and instinctive political goals and has come to competition policy only recently,” he said.

Ribera’s early months in office have been dominated by the green files in her wide-ranging portfolio. She has presented the EU’s Clean Industrial Deal and overseen revisions to the bloc’s state aid framework to boost productivity and the green transition.

European competition officials complain that these priorities have come at the expense of her antitrust brief — typically one of the most prized portfolios in the commission.

Olivier Guersent, who stepped down as top competition civil servant last month, defended Ribera and said her political focus was inevitably on other topics in her first few months.

“Now that all of this is done, it will be more of Ribera as competition commissioner in the second part of the year. But she is already very much into the job”, he told the Financial Times in July.

Ribera’s is the top-ranking socialist in the commission, with a responsibility for championing more progressive causes within an executive team dominated by von der Leyen’s centre-right European People’s party. 

The relationship between von der Leyen and Ribera’s teams has been tense, creating friction that could become more significant as bigger competition decisions arise.

Another prominent Brussels competition lawyer said it will be up to Ribera to stand up to von der Leyen’s attempts to use competition as just another instrument for the bloc’s industrial policy.

“That will be her true test,” the lawyer said. 

The Information : OpenAI to Gain $50 Billion From Cutting Revenue Share with Mic

OpenAI to Gain $50 Billion From Cutting Revenue Share with Microsoft, Partners

The Takeaway
  • OpenAI plans to share 8% of its revenue with Microsoft, partners by decade’s end
  • Forecast contrasts with existing revenue sharing agreement
  • Microsoft will own about one-third of OpenAI’s restructured company and not take a board seat

As OpenAI irons out new terms of a partnership with Microsoft, it has told some shareholders that the percentage of revenue it will hand over to Microsoft will drop considerably in the coming years.

As part of their original partnership agreement, Microsoft is entitled to 20% of the startup’s revenue through 2030. But OpenAI has projected to share roughly 8% of its revenue with commercial partners—namely, Microsoft—by the end of the decade from just under 20% this year. The difference between those figures adds up to over $50 billion in additional revenue OpenAI would keep for itself through 2030, which it needs because it has projected record-breaking expenses for computing power before that year.

The companies are also negotiating what will happen when OpenAI achieves so-called artificial general intelligence, or AI that’s as intelligent as a human. The companies’ existing contract stipulates that Microsoft will lose exclusive access to OpenAI’s technology once the startup demonstrates that its technology can surpass certain financial milestones, but Microsoft has been angling for the AGI clause to be modified or removed from the contract.

The two companies are also negotiating how much OpenAI will spend to rent servers from Microsoft, according to another person briefed on the discussions.

While many aspects of the deal are still up in the air, some aspects of the agreement have been largely worked out, say people close to the discussions. Namely, OpenAI’s nonprofit and Microsoft will each get around one-third of the new company, which is currently allowing its employees to sell shares at a $500 billion valuation, one of the people said.

For the last several weeks, teams from both sides, including OpenAI Chief Financial Officer Sarah Friar and Microsoft Chief Financial Officer Amy Hood, and or people who report to them have been meeting weekly to work out the details of the restructuring, according to the person.


It’s not clear why OpenAI is projecting sharing less than 20% of its revenue with Microsoft, given the earlier terms, but some OpenAI leaders want Microsoft to exempt future OpenAI products that haven’t been released yet from the existing revenue-sharing agreement, such as PhD-level agents that cost $20,000 a month.

The 8% figure is even lower than OpenAI’s projection from earlier this year, when it expected to share about 10% of its 2030 revenue with partners, down from nearly 30% this year. (The higher percentage for 2025 may reflect OpenAI’s agreement to power some Siri queries on Apple devices, which doesn’t appear to have contributed much to the startup’s subscription sales, of which Apple would get a cut.)

The change means OpenAI plans to share nearly $56 billion in revenue with Microsoft and other partners through 2030, compared to the roughly $74 billion it had previously projected. It’s not clear whether a new, non-binding agreement Microsoft and OpenAI said on Thursday they had signed for their partnership includes changes to the latest revenue-sharing plan shared with some investors.

The Information : Polymarket Fields Offer for $9 Billion Valuation; Kalshi Nears

Polymarket Fields Offer for $9 Billion Valuation; Kalshi Nears $5 Billion Valuation


The Takeaway
  • Polymarket offered $9 valuation jump following CFTC green-light
  • Rival Kalshi nears $5 billion-valuation deal
  • Trading volume has jumped at both in the last year

Startups that enable people to bet on events such as the New York mayoral race, NFL games and the Federal Reserve rate decisions are in talks to raise more money at multi-billion-dollar valuations, as trading volume and rivalry between the two apps intensifies.

Polymarket has considered an offer that would value the company as much as $9 billion, according to people who have spoken to the company’s leaders. That would be a huge jump in price for the startup, which raised money at a $1 billion valuation earlier this summer and is on the cusp of re-entering the U.S. market, but doesn’t yet generate revenue.

Meanwhile, older rival Kalshi is close to raising money at a $5 billion valuation including the new money, which would more than double the $2 billion valuation the startup raised at just three months ago, according to two people who have spoken to its leaders.

The fundraising discussions follow growth in trading volumes for event contracts—derivatives that pay out to investors who guess the event outcomes correctly— after the markets gained attention ahead of the 2024 U.S. presidential election. Both startups have recently moved to expand the ways customers can buy their contracts.

Polymarket earlier this month said the Commodity Futures Trading Commission had given it the go-ahead to serve U.S.-based users. The agency had barred it from accepting U.S.-based trades three years ago, saying it was running an unregistered derivatives exchange. In July, the five-year-old startup bought a U.S.-registered exchange and clearinghouse, which helped pave the way for the CFTC approval.

Trading volume on Polymarket hit $1 billion in August, more than twice its volume a year ago, according to Dune Analytics, which tracks activity on blockchains. Polymarket clears trades using cryptocurrency, saving the platform the trouble of coordinating with banks and payments providers in each country. Customers use Circle’s USDC stablecoin to buy contracts predicting outcomes of political, sporting or global events. They receive a payout if they predict correctly.

Polymarket doesn’t generate revenue but could at some point by charging fees on trades. It has also discussed launching a token, though there’s no timeline on that yet, The Information reported last year.

Kalshi has tried to distinguish itself by touting the fact that it already operates with U.S. regulatory oversight. Trading volume on Kalshi hit $875 million in August, according to an analysis of Kalsh’s public data compiled by a Dune Analytics user.

Kalshi generates revenue from charging a transaction fee on the expected earnings of a contract. In August, it announced a partnership with trading app Robinhood to offer contracts predicting the outcome of NFL and college football games on the app.

Investors have chased this growth. In June, crypto VC firm Paradigm led a $185 million investment into Kalshi at a $2 billion valuation. The financing brought its total funding to $415 million. Multicoin Capital, Sequoia Capital and Citadel Securities CEO Peng Zhao have previously invested.

Around the same time, Polymarket raised more than $200 million at a $1 billion valuation in an investment led by Founders Fund. Polymarket said in late August that Donald Trump, Jr. had joined its advisory board and that 1789 Capital, a VC firm at which Trump, Jr. is a partner, had made a strategic investment. Other investors include General Catalyst and Polychain Capital.

NYT : A.I.’s Prophet of Doom Wants to Shut It All Down

A.I.’s Prophet of Doom Wants to Shut It All Down
Eliezer Yudkowsky has spent the past 20 years warning A.I. insiders of danger. Now, he’s making his case to the public.

The first time I met Eliezer Yudkowsky, he said there was a 99.5 percent chance that A.I. was going to kill me.

I didn’t take it personally. Mr. Yudkowsky, 46, is the founder of the Machine Intelligence Research Institute, a Berkeley-based nonprofit that studies risks from advanced artificial intelligence.

For the last two decades, he has been Silicon Valley’s version of a doomsday preacher — telling anyone who will listen that building powerful A.I. systems is a terrible idea, one that will end in disaster.

That is also the message of Mr. Yudkowsky’s new book, “If Anyone Builds It, Everyone Dies.” The book, co-written with MIRI’s president, Nate Soares, is a distilled, mass-market version of the case they have been making to A.I. insiders for years.

Their goal is to stop the development of A.I. — and the stakes, they say, are existential.

“If any company or group, anywhere on the planet, builds an artificial superintelligence using anything remotely like current techniques, based on anything remotely like the present understanding of A.I., then everyone, everywhere on Earth, will die,” they write.

This kind of blunt doomsaying has gotten Mr. Yudkowsky dismissed by some as an extremist or a crank. But he is a central figure in modern A.I. history, and his influence on the industry is undeniable.

Google, too, owes some of its A.I. success to Mr. Yudkowsky. In 2010, he introduced the founders of DeepMind — a London start-up that was trying to build advanced A.I. systems — to Peter Thiel, the venture capitalist. Mr. Thiel became DeepMind’s first major investor, before Google acquired the company in 2014. Today, DeepMind’s co-founder Demis Hassabis oversees Google’s A.I. efforts.

In addition to his work on A.I. safety — a field he more or less invented — Mr. Yudkowsky is the intellectual force behind Rationalism, a loosely organized movement (or a religion, depending on whom you ask) that pursues self-improvement through rigorous reasoning. Today, Silicon Valley tech companies are full of young Rationalists, many of whom grew up reading Mr. Yudkowsky’s writing online.

I’m not a Rationalist, and my view of A.I. is considerably more moderate than Mr. Yudkowsky’s. (I don’t, for instance, think we should bomb data centers if rogue nations threaten to develop superhuman A.I. in violation of international agreements, a view he has espoused.) But in recent months, I’ve sat down with him several times to better understand his views.

At first, he resisted being profiled. (Ideas, not personalities, are what he thinks rational people should care about.) Eventually, he agreed, in part because he hopes that by sharing his fears about A.I., he might persuade others to join the cause of saving humanity.

“To have the world turn back from superintelligent A.I., and we get to not die in the immediate future,” he told me. “That’s all I presently want out of life.”

From ‘Friendly A.I.’ to ‘Death With Dignity’
Mr. Yudkowsky grew up in an Orthodox Jewish family in Chicago. He dropped out of school after eighth grade because of chronic health issues, and never returned. Instead, he devoured science fiction books, taught himself computer science and started hanging out online with a group of far-out futurists known as the Extropians.

He was enchanted by the idea of the singularity — a hypothetical future point when A.I. would surpass human intelligence. And he wanted to build an artificial general intelligence, or A.G.I., an A.I. system capable of doing everything the human brain can.

“He seemed to think A.G.I. was coming soon,” said Ben Goertzel, an A.I. researcher who met Mr. Yudkowsky as a teenager. “He also seemed to think he was the only person on the planet smart enough to create A.G.I.”

He moved to the Bay Area in 2005 to pursue what he called “friendly A.I.” — A.I. that would be aligned with human values, and would care about human well-being.

But the more Mr. Yudkowsky learned, the more he came to believe that building friendly A.I. would be difficult, if not impossible.

One reason is what he calls “orthogonality” — the notion that intelligence and benevolence are separate traits, and that an A.I. system would not automatically get friendlier as it got smarter.

Another is what he calls “instrumental convergence” — the idea that a powerful, goal-directed A.I. system could adopt strategies that end up harming humans. (A well-known example is the “paper clip maximizer,” a thought experiment popularized by the philosopher Nick Bostrom, based on what Mr. Yudkowsky claims is a misunderstanding of an idea of his, in which an A.I. is told to maximize paper clip production and destroys humanity to gather more raw materials.)

He also worried about what he called an “intelligence explosion” — a sudden, drastic spike in A.I. capabilities that could lead to the rapid emergence of superintelligence.

At the time, these were abstract, theoretical arguments hashed out among internet futurists. Nothing remotely like today’s A.I. systems existed, and the idea of a rogue, superintelligent A.I. was too far-fetched for serious scientists to worry about.

But over time, as A.I. capabilities improved, Mr. Yudkowsky’s ideas found a wider audience.

In 2010, he started writing “Harry Potter and the Methods of Rationality,” a serialized work of Harry Potter fan fiction that he hoped would introduce more people to the core concepts of Rationalism. The book eventually sprawled to more than 600,000 words — longer than “War and Peace.” (Brevity is not Mr. Yudkowsky’s strong suit — another of his works, a B.D.S.M.-themed Dungeons & Dragons fan fiction that contains his views of decision theory, clocks in at 1.8 million words.)

Despite its length, “Harry Potter and the Methods of Rationality” was a cult hit, and introduced legions of young people to Mr. Yudkowsky’s worldview. Even today, I routinely meet employees of top A.I. companies who tell me, somewhat sheepishly, that reading the book inspired their career choice.

Some young Rationalists went to work for MIRI, Mr. Yudkowsky’s organization. Others fanned out across the tech industry, taking jobs at companies like OpenAI and Google. But nothing they did slowed the pace of A.I. progress, or allayed any of Mr. Yudkowsky’s fears about how powerful A.I. would turn out.

In 2022, Mr. Yudkowsky announced — in what some interpreted as an April Fools joke — that he and MIRI were pivoting to a new strategy he called “death with dignity.” Humanity was doomed to die, he said, and instead of continuing to fight a losing battle to align A.I. with human values, he was shifting his focus to helping people accept their fate.

“It’s obvious at this point that humanity isn’t going to solve the alignment problem, or even try very hard, or even go out with much of a fight,” he wrote.

Are We Really Doomed?
These are, it should be said, extreme views even by the standards of A.I. pessimists. And during our most recent conversation, I raised some objections to Mr. Yudkowsky’s claims.

Haven’t researchers made strides in areas like mechanistic interpretability — the field that studies the inner workings of A.I. models — that may give us better ways of controlling powerful A.I. systems?

“The course of events over the last 25 years has not been such as to invalidate any of these underlying theories,” he replied. “Imagine going up to a physicist and saying, ‘Have any of the recent discoveries in physics changed your mind about rocks falling off cliffs?’”

What about the more immediate harms that A.I. poses — such as job loss, and people falling into delusional spirals while talking to chatbots? Shouldn’t he be at least as focused on those as on doomsday scenarios?

Mr. Yudkowsky acknowledged that some of these harms were real, but scoffed at the idea that he should focus more on them.

“It’s like saying that Leo Szilard, the person who first conceived of the nuclear chain reactions behind nuclear weapons, ought to have spent all of his time and energy worrying about the current harms of the Radium Girls,” a group of young women who developed radiation poisoning while painting watch dials in factories in the 1920s.

Are there any A.I. companies he’s rooting for? Any approaches less likely to lead us to doom?

“Among the crazed mad scientists driving headlong toward disaster, every last one of which should be shut down, OpenAI’s management is noticeably worse than the pack, and some of Anthropic’s employees are noticeably better than the pack,” he said. “None of this makes a difference, and all of them should be treated the same way by the law.”

And what about the good things that A.I. can do? Wouldn’t shutting down A.I. development also mean delaying cures for diseases, A.I. tutors for students and other benefits?

“We totally acknowledge the good effects,” he replied. “Yep, these things could be great tutors. Yep, these things sure could be useful in drug discovery. Is that worth exterminating all life on Earth? No.”

Does he worry about his followers committing acts of violence, going on hunger strikes or carrying out other extreme acts in order to stop A.I.?

“Humanity seems more likely to perish of doing too little here than too much,” he said. “Our society refusing to have a conversation about a threat to all life on Earth, because somebody else might possibly take similar words and mash them together and then say or do something stupid, would be a foolish way for humanity to go extinct.”

One Last Battle
Even among his fans, Mr. Yudkowsky is a divisive figure. He can be arrogant and abrasive, and some of his followers wish he were a more polished spokesman. He has also had to adjust to writing for a mainstream audience, rather than for Rationalists who will wade through thousands of dense, jargon-packed pages.

“He wrote 300 percent of the book,” his co-author, Mr. Soares, quipped. “I wrote another negative 200 percent.”

He has adjusted his image in preparation for his book tour. He shaved his beard down from its former, rabbinical length and replaced his signature golden top hat with a muted newsboy cap. (The new hat, he said dryly, was “a result of observer feedback.”)

Several months before his new book’s release, a fan suggested he take one of his self-published works, an erotic fantasy novel, off Amazon to avoid alienating potential readers. (He did, but grumbled to me that “it’s not actually even all that horny, by my standards.”)

In 2023, he started dating Gretta Duleba, a relationship therapist, and moved to Washington State, far from the Bay Area tech bubble. To his friends, he seems happier now, and less inclined to throw in the towel on humanity’s existence.

Even the way he talks about doom has changed. He once confidently predicted, with mathematical precision, how long it would take for superhuman A.I. to be developed. But he now balks at those exercises.

“What is this obsession with timelines?” he asked. “People used to trade timelines the way that they traded astrological signs, and now they’re trading probabilities of everybody dying the way they used to trade timelines. If the probability is quite large and you don’t know when it’s going to happen, deal with it. Stop making up these numbers.”

I’m not persuaded by the more extreme parts of Mr. Yudkowsky’s arguments. I don’t think A.I. alignment is a lost cause, and I worry less about “Terminator”-style takeovers than about the more mundane ways A.I. could steer us toward disaster. My p(doom) — a rough, vibes-based measure of how probable I feel A.I. catastrophe is — hovers somewhere between 5 and 10 percent, making me a tame moderate by comparison.

I also think there is essentially no chance of stopping A.I. development through international treaties and nuclear-weapon-level controls on A.I. chips, as Mr. Yudkowsky and Mr. Soares argue is necessary. The Trump administration is set on accelerating A.I. progress, not slowing it down, and “doomer” has become a pejorative in Washington.

Even under a different White House administration, hundreds of millions of people would be using A.I. products like ChatGPT every day, with no clear signs of impending doom. And absent some obvious catastrophe, A.I.’s benefits would seem too obvious, and the risks too abstract, to hit the kill switch now.

But I also know that Mr. Yudkowsky and Mr. Soares have been thinking about A.I. risks far longer than most, and that there are still many reasons to worry about A.I. For starters, A.I. companies still don’t really understand how large language models work, or how to control their behavior.

Their brand of doomsaying isn’t popular these days. But in a world of mealy-mouthed pablum about “maximizing the benefits and minimizing the risks” of A.I., maybe they deserve some credit for putting their cards on the table.

“If we get an effective international treaty shutting A.I. down, and the book had something to do with it, I’ll call the book a success,” Mr. Yudkowsky told me. “Anything other than that is a sad little consolation prize on the way to death.”