Table of Contents

• U.S. Stocks

• Physical Intelligence Robotics Startup

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Economy & Finance

U.S. Stocks

On Monday, U.S. stocks dropped as investors prepared for the upcoming presidential election and a potential interest rate cut from the Federal Reserve later in the week. The Dow fell 257 points, while both the S&P 500 and Nasdaq saw smaller declines. Nvidia provided some market stability with a modest rise, buoyed by its upcoming addition to the Dow in place of Intel, which has struggled in the AI sector. Utility stocks weighed down the market after a regulatory setback for Talen Energy, while financials and healthcare stocks also declined. Traders largely expect a Federal Reserve rate cut, which has fueled caution, with investors moving towards safer assets like U.S. Treasurys.

Technology

Physical Intelligence Robotics Startup

Physical Intelligence, a robotics software startup, announced a $400 million funding round led by Jeff Bezos, OpenAI, and venture firms Thrive and Lux Capital, securing a $2 billion valuation. The startup aims to develop universal software for robots, streamlining robotic functionality by eliminating the need for task-specific coding. Major tech firms like Amazon, Microsoft, Google, and Nvidia are pouring significant investments into AI, with expected global AI funding reaching $79.2 billion by 2024. Meanwhile, other robotic-focused companies, such as Vicarious and Covariant, are also advancing in the sector. Physical Intelligence’s recent software, π0 (pi-zero), has shown promising results, enabling robots to perform varied tasks like folding laundry and bagging groceries.

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