Waymo pulls ahead of Tesla Robotaxi, Amazon Zoox with latest move

Intrinsic, a subsidiary of Alphabet, has partnered with Foxconn, a supplier for Nvidia, to implement AI robots in Foxconn's factories in the U.S. This collaboration highlights the growing focus on 'physical AI', which refers to artificial intelligence that operates in real-world environments.

Physical Intelligence, a startup focused on developing artificial intelligence software for robots, has secured $600 million in funding, bringing its valuation to $5.6 billion. This investment highlights the growing interest in AI technologies and their potential applications in various industries.

Retailers Kroger, Target, and Walgreens are implementing stricter rules to combat retail theft and shoplifting, which have negatively impacted the shopping experience. Customers often find essential items locked away, requiring assistance from staff, leading to frustration and a shift towards online shopping alternatives like Amazon.

A key manufacturer in the food industry has filed for Chapter 11 bankruptcy, reflecting ongoing challenges within the sector. The filing highlights concerns over financial stability and operational viability amid rising costs and market volatility. This situation underscores the broader issues facing food-related businesses, particularly in the context of changing consumer behaviors and economic pressures.

Goldman Sachs has warned that the increasing debt levels among major tech companies, including Amazon, Google, Meta, Microsoft, and Oracle, which have collectively taken on $121 billion in new debt this year, could heighten macroeconomic risks associated with the expansion of artificial intelligence. This amount is four times greater than the total debt incurred by these companies over the previous five years.

Merck & Co., a 133-year-old pharmaceutical company, has announced plans for layoffs and has filed a WARN notice. This move comes amid a broader trend of increasing layoffs across various industries, including notable tech companies like Amazon and Microsoft, which have also faced significant workforce reductions this year.

Loop Capital analyst Rob Sanderson has upgraded Alphabet's stock rating from hold to buy, raising the price target to $320. This marks a significant shift in Sanderson's stance, as he has previously been cautious about the company's performance. The upgrade reflects growing optimism in the market regarding Alphabet's prospects.

Zoox, an autonomous vehicle company owned by Amazon, has been developing a distinctive vehicle for the past decade. While competitors like Tesla's Robotaxi and Waymo attract significant media attention, Zoox's unique design and technology have remained relatively under the radar, yet they are memorable once seen.