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Top stories today:
- Sora app released by OpenAI to create, share AI videos
- U.S. begins shutdown as Trump, Democrats remain at impasse
- Vercel raises $300M led by Accel, GIC at $9.3B valuation
- Trump unveils āTrumpRxā discount drug site, announces Pfizer deal
- Apple moves to toss Elonās xAI lawsuit
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. 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 āCameoā tool to let users insert and edit AI videos of themselves and friends.
Users can also remix each otherās 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.
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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
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.
Amazonās 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.
Blinkās $90 Outdoor 2K+ and a $100 Arc to combine two Mini 2K+ models also launched for later this year debut.
Amazonās 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 Vercelās AI Cloud platform and its AI development agent, v0, which now has 3.5M+ unique users.
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6. Trump unveils āTrumpRxā discount drug site, announces Pfizer price deal
Pfizer shares +7% on the deal announcement:
