To some extent I reject the question as not-super-action-guiding (I think that a lot of work people do has impacts on both things).
But taking it at face value, I think that AI x-risk is almost all about increasing the value of futures where "we" survive (even if all the humans die), and deserves most attention. Literal extinction of earth-originating intelligence is mostly a risk from future war, which I do think deserves some real attention, but isn't the main priority right now.
I don't think this is as clear of a dichotomy as people think it is. A lot of global catastrophic risk doesn't come from literal extinction because human extinction is very hard. A lot of mundane work on GCR policy involves a wide variety of threat models that are not just extinction.
What about the threat of strongly superhuman artificial superintelligence?