Top stories today:

1. Sora app released by OpenAI to create, share AI videos
2. U.S. begins shutdown as Trump, Democrats remain at impasse
3. Vercel raises $300M led by Accel, GIC at $9.3B valuation
4. Trump unveils “TrumpRx” discount drug site, announces Pfizer deal
5. Apple moves to toss Elon’s xAI lawsuit

0. Data and calendar

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

1. Sora app released by OpenAI to create, share AI videos with self-insertion cameos

• Available by invite only in the U.S. and Canada on iOS, with an Android version in development.

• Built on the new Sora 2 model, with support for AI-generated audio sync.

• Includes a “Cameo” tool to let users insert and edit AI videos of themselves and friends.

• Users can also remix each other’s AI-generated videos and discover new videos in a customizable Sora feed.

• OpenAI says safeguards are in place, with measures to prevent identity misuse or unauthorized cameos.

  • Public figure depictions are blocked by default.

• Sora 2 is free with limited use, while ChatGPT Pro users get access to the higher-quality Sora 2 Pro.

3. U.S. begins shutdown as Trump, Democrats remain at impasse

• Congress blew past the midnight funding deadline, triggering the 1st shutdown in ~7 years.

• The White House budget office ordered federal agencies to begin executing their shutdown plans.

• Democrats and Republicans remain locked in a stalemate over health care subsidies, with both sides eyeing the 2026 midterms.

• The unemployment rate could rise to 4.6%-4.7% from 4.3% in Aug. if the shutdown lasts 3 weeks, as furloughed workers count as unemployed.

• Trump said he would use the shutdown to conduct mass layoffs of federal workers beyond temporary furloughs.

Shutdowns have directly impacted the U.S. dollar in the past

• BBDXY, a gauge of the dollar, declined for a 4th day.

• -0.5% in contracts for the S&P500 and Nasdaq 100 indexes after the stopgap funding bill failed.

Gold has reached an all-time high as the government shutdown fuels haven demand

• Monthly gold-backed ETF inflows in Sep. were the largest in 3 years.

• Gold rose to $3,875.53/oz amid the shutdown, marking its fifth straight daily gain.

• +47% in gold price this year, on track for the biggest annual gain since 1979.

4. Amazon launches Kindle Scribe Colorsoft with stylus at $630

• The Kindle Scribe with backlit-B&W screen has also arrived, with a price tag of $500.

• Later this year: both Kindle Scribe Colorsoft and Kindle Scribe will debut in the U.S., with UK and Germany rollout in early 2026.

• Kindle Scribe without Front Light has been launched, priced at $430.

• A new $40 4K Fire TV Stick without Dolby Atmos and Dolby Vision has also debuted.

Amazon’s Ring has also unveiled the $200 Outdoor Cam Pro, the $250 Spotlight Cam Pro, and the $280 Floodlight Cam Pro

• $280 Wired Doorbell Plus, $250 Wired Doorbell Pro, and $60 Indoor Cam Plus have also debuted.

• Ring has also launched Search Party for dogs as an AI-powered community feature.

• Blink’s $90 Outdoor 2K+ and a $100 Arc to combine two Mini 2K+ models also launched for later this year debut.

• Amazon’s 2-Series, 4-Series, and Omni QLED TVs also upgraded with faster processors and Alexa+ support.

The $100 Echo Dot Max and $220 Echo Studio were also launched

• The Echo Dot Max features 3x the bass compared to Echo Dot (5th gen), with 2 built-in speakers.

• Upgraded $180 Echo Show 8 and $220 Echo Show 11 smart displays have also been launched.

• All the new Echo devices come with Alexa+ support.

5. Vercel raises $300M led by Accel, GIC at $9.3B valuation

• BlackRock, StepStone, Khosla Ventures, Schroders, Adams Street Partners, and General Catalyst also participated.

• Vercel is also running a tender offer to let early backers and employees sell ~$300M in shares.

• The cash will fund Vercel’s AI Cloud platform and its AI development agent, v0, which now has 3.5M+ unique users.

6. Trump unveils “TrumpRx” discount drug site, announces Pfizer price deal

Pfizer shares +7% on the deal announcement: