This bill, titled the Collaboration on Adversarial Threats and Security Risks Act, establishes a limited exemption from antitrust laws for non-Federal entities collaborating on artificial intelligence (AI) security. Its primary goal is to enable organizations to address significant AI-related risks without fear of antitrust violations, fostering cooperation in a rapidly evolving technological landscape. Specifically, the legislation permits non-Federal entities to share information or assistance related to "covered artificial intelligence security risks" in good faith and for the exclusive purpose of a "covered artificial intelligence security purpose." These risks include AI being weaponized by foreign adversaries, facilitating weapons of mass destruction, disrupting critical infrastructure, or becoming uncontrollable. The bill also allows entities to coordinate or enter into agreements to delay or limit the release, deployment, use, development, training, testing, or evaluation of AI to reduce these risks, provided they submit written notice to the Assistant Attorney General detailing the specific risk and proposed restriction. To qualify for this exemption, actions must be taken in good faith and for the exclusive purpose of addressing AI security. The exemption does not, however, permit anti-competitive practices such as price-fixing, market allocation, or boycotting. Information submitted to the Assistant Attorney General for coordination purposes is protected from public disclosure. The Attorney General retains the authority to seek injunctions against actions that violate antitrust laws if the entities fail to meet the exemption's burden of proof or if the actions are likely to increase overall AI security risks, even if initially intended for a covered purpose. This ensures a balance between promoting AI security collaboration and preventing anti-competitive behavior.