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Top stories today:
- Meta unveils $799 smart glasses with display, AI integration
- Fed cuts rates by 25 bps to 4.00% - 4.25%, signals more cuts likely
- NVIDIA CEO ādisappointedā by reported China AI chip ban
- Groq raises $750M at $6.9B valuation in Disruptive-led round
- SoftBank, OpenAI Japan AI joint venture said to be delayed
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing todayās newsletter (beware of hallucinations):
1. Meta unveils $799 smart glasses with display, AI integration
The built-in 600x600 pixel screen on the right lens can show text messages, video calls, and visual results from Meta AI.
A neural wristband is bundled as a control system with hand gesture support.
12MP camera with 1080p video recording support.
Sep. 30: the Meta Ray-Ban Display will go on sale in the U.S. in 2 sizes and color options: black and sand (brown shade).
Meta also launched Oakley Meta Vanguard smart glasses targeting sports enthusiasts
12MP wide-angle centered camera and immersive audio.
$499 price.
Oct. 21 availability.
The Ray-Ban Meta (Gen 2) also debuted with an 8-hour battery life and 3K video recording support
$329 starting price.
Relatedly, Meta upgraded its Horizon Worlds with Horizon Studio to offer AI support for building virtual worlds.
Horizon TV has also been rolled out for Quest headsets.
Hyperscape Capture has launched in early access, letting Quest 3 users scan rooms into VR spaces.
Grammy-winning artist will.i.am passed on investing $200K in Airbnb in 2010. Itād be worth $100M+ today. Now, the investors behind Venmo and Uber are backing another real estate disruptor. And this time, you can invest. But only until Thursday.
Meet Pacaso. Created by a former Zillow exec who sold his first venture for $120M, Pacaso brings co-ownership to the $1.3T vacation home industry.Ā
Theyāve generated $1B+ worth of luxury home transactions & fees across 2,000+ owners. Thatās good for more than $110M in gross profits in under 5 years. Theyāve even reserved their Nasdaq ticker, PCSO.Ā
And you can join them today for just $2.90/share. But donāt wait too long. Invest in Pacaso before the opportunity ends Thursday night.
*Sponsored by Pacaso. ($15,000 contracted). Prospective investors should review the offering materials for details, including all risk factors, before making an investment decision. Any investment involves significant risks, including the potential loss of the total investment. This advertisement is not an offer to sell or a solicitation of an offer to buy securities. This Reg A+ offering is made available through DealMaker. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. Please read the offering circular before investing in Pacaso.
3. Fed cuts rates by 25 bps to 4.00% - 4.25%, signals more cuts likely
1st in nine months, with officials judging that recent labor-market softness outweighed setbacks on inflation.
āThat downside risk is now a reality,ā Powell said, referring to the ādownside riskā he had mentioned in Jul.
Powell rallied a deeply divided committee of policymakers behind the interest-rate cut.
11 of 12 Fed voters backed the quarter-point cut, with newly appointed Governor Stephen Miran dissenting
2 additional cuts this year are expected this year by the FOMC and by markets
Stocks closed mixed after the rate cut
4. NVIDIA CEO ādisappointedā by reported China AI chip ban
