Zillow Adds Climate Risk Assessments to Property Listings

Zillow (NASDAQ: ZG) announced Friday new risk-assessment technology powered by climate risk firm First Street will now be displayed on each for-sale listing on the home-buying platform, with risk scores for flood, fire, wind, air and heat. "Climate risks are now a critical factor in home buying decisions," said Skylar Olsen, chief economist at Zillow, in a release. "As concerns about flooding, extreme temperatures, and wildfires grow, this tool also helps agents inform their clients in discussing climate risk, insurance, and long-term affordability." First Street's assessments also show risk percentages estimated for 15 years and 30 years into the future, which are the standard lengths for fixed-rate mortgages. The data also includes flood insurance recommendations for the potential homebuyer, with a link to First Street's website that will help estimate insurance costs.

Toyota Motor Invests Additional $500 Million in Joby Aviation

Toyota Motor (NYSE: TM) announced Wednesday it will invest an additional $500 million in Joby Aviation (NYSE: JOBY), bringing its total investment in the electric air taxi service to nearly $895 million. The new funding builds on the companies' strategic alliance on manufacturing and will support both certification and commercial production of Joby's electric vertical take-off and landing (eVOTL) aircraft. "We share Joby's view that sustainable flight will be central to alleviating today's persistent mobility challenges," said Ted Ogawa, chief executive of Toyota Motor North America, in a statement. Toyota is Joby's largest external shareholder, according to Joby CEO JoeBen Bevirt, with other investors including Delta Air Lines (NYSE: DAL) -- the airline ones a 2% equity stake in Joby in partnership to initially offer air taxi services to and from airports in New York and Los Angeles.

OpenAI Raises $6.6 Billion in Latest Funding Round, Valued at $157 Billion

OpenAI has closed its largest funding round so far, rising $6.6 billion that now values the ChatGPT-parent at $157 billion. Led by previous investor Thrive Capital, the funding round now bring's the start-up's total cash raised to $17.9 billion, according to Crunchbase. "The new funding will allow us to double down on our leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems," the company wrote in a blog post. "We're grateful to our investors for their trust in us, and we look forward to working with our partners, developers, and the broader community to shape an AI-powered ecosystem and future that benefits everyone." This round also included participants Microsoft (NASDAQ: MSFT), Nvidia (NASDAQ: NVDA), SoftBank (OTC: SFTBY), Khosla Ventures, Altimeter Capital, Fidelity, and MGX, with Thrive investing about $1.3 billion alone, according to The New York Times.

Starbucks Workers United Adds 500th Store

Starbucks (NASDAQ: SBUX) baristas in Bellingham, Washington became the 500th store to join the Starbucks Workers United union on Monday, bringing the union's membership to more than 11,000. "This milestone is a testament to workers building power from the ground up," said Lynne Fox, president of Workers United, in a statement. "Starbucks partners have boldly demanded a voice on the job and with it, strong contracts that ensure respect, living wages, racial and gender equity, fair scheduling and more." The union has been meeting with Starbucks at the bargaining table monthly since April, the union said, with 100 new locations successfully unionizing in the past six months. The union said that the negotiations between the two parties have been productive and have advanced measures for individual stores.

AI Chipmaker Cerebras Systems Files IPO

Artificial intelligence chipmaker Cerebras Systems filed its prospectus for an initial public offering on Monday, planning to trade under the symbol "CBRS" on the Nasdaq. Cerebras had a net loss of $66.6 million in the first six months of 2024 on $136.4 million in sales, according to the filing, and was valued at over $4 billion in 2021. The company cites Nvidia (NASDAQ: NVDA) as a direct competitor, claiming that its WSE-3 chips have more cores and memory than Nvidia's H100 chips. Cerebras also offers cloud-based services, and also cites AMD (NASDAQ: AMD), Intel (NASDAQ: INTC), Microsoft (NASDAQ: MSFT) and Google (NASDAQ: GOOGL) (NASDAQ: GOOG) as rivals, "as well as internally developed custom application-specific integrated circuits and a variety of private companies." Cerebras' chips are made by Taiwan Semiconductor Manufacturing Company (NYSE: TSM), with the company warning that supply chain disruptions can impact operations.

SpaceX's Starlink Reaches 4 Million Subscribers

SpaceX's Starlink satellite internet network reached a new milestone this week, the company announced on Thursday, surpassing 4 million customers across 100+ countries, territories and markets like major airlines and cruise lines. The new milestone implies that Starlink has gained a million new customers since the end of May, TechCrunch reports. Starting as a beta service in October 2020, Starlink reached 1 million subscribers in December 2022, 2 million by September 2023, and 3 million last May -- all serviced by nearly 6,000 satellites. According to Quilty Space, an industry research and consulting firm, Starlink is set to generate $6.6 billion in revenue in 2024, increasing more than 370% its revenue in 2022.

Hurricane Helene to Bring 'Catastrophic and Unsurvivable' Storm Surge to Florida

Hurricane Helene is swiftly advancing across the Gulf of Mexico toward Florida Thursday, where it is expected to make landfall in the southeast of Tallahassee as a Category 3 or higher storm, meaning winds could top 110 mph. The storm is forecasted to produce an unprecedented 15-to-20-foot storm surge in the state, with the National Weather Service (NWS) calling the forecast "catastrophic and unsurvivable," in the Big Bend region. The NWS also warned that power outages are likely to be widespread and "prolonged" in the storm's wake. Helene is expected to bring hurricane-force winds through north Georgia, potentially impacting Atlanta, and total rainfall in western North Carolina is forecasted to exceed 15 inches, which could cause historic flooding. Helene is the eighth named storm of the Atlantic hurricane season this year; the National Oceanic and Atmospheric Administration has predicted an above-average season due to record high ocean temperatures.

OpenAI CFO Mira Murati Announced Departure from Company

OpenAI Chief Technology Officer Mira Murati announced Wednesday that she is leaving the company after six and a half years, making her the latest high-level executive to depart from the company in recent months. "After much reflection, I have made the difficult decision to leave OpenAI," Murati wrote in a statement posted on X, formally known as Twitter. "For now, my primary focus is doing everything in my power to ensure a smooth transition, maintaining the momentum we've built." Murati is the fourth executive to resign this year, following co-founder Ilya Sutskever and former safety lead Jan Leike's departures in May, and co-founder John Schulman's move to join rival Anthropic last month. Murati had served as interim CEO last November when OpenAI's board ousted CEO Sam Altman, before returning to her role at CTO after his return.

DOJ Sues Visa on Debit Network Monopoly Claims

The U.S. Justice Department sued Visa (NYSE: V) Tuesday, claiming the multinational payment services company held an illegal monopoly over debit payments by imposing "exclusionary" agreements on merchants and banks. These agreements, according to the DOJ, penalize customers who make transactions to a different debit network or alternative payment system. "We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market," Attorney General Merrick Garland said in a release. "Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service." More than 60% of U.S. debit transactions are facilitated by Visa, according to the DOJ, allowing the company to charge more than $7 billion annually in processing fees. The DOJ also claims that Visa "engaged in a deliberate and reinforcing course of conduct to cut off competition and prevent rivals from gaining the scale, share, and data necessary to compete."

TikTok Rolls Out 'Subscription' Creator Monetization

TikTok on Monday announced the rollout of its "Subscription" monetization feature to eligible creators in select countries -- including the United States, France, Germany, Spain, the United Kingdom, Italy, Japan, South Korea, Indonesia and Brazil -- with plans for further expansion in the coming weeks. Subscription allows creators to provide paid viewers with exclusive content and perks at three different tiers, directly competing with platforms like Instagram's Subscriptions (NASDAQ: META), YouTube's (NASDAQ: GOOGL) (NASDAQ: GOOG) channel memberships and Patreon. Paid subscribers can also interact with creators on exclusive channels, get unique stickers to use during LIVEs and badges that appear next to their names on their profiles and in comments. Creators need to be at least 18 years old and have at least 10,000 followers and 100,000 video views in the past month to access Subscription.

Constellation Energy to Restart Three Mile Island Nuclear Plant, Sell Energy to Microsoft

Constellation Energy (NASDAQ: CEG) revealed plans Friday to restart its Three Mile Island nuclear plant and will sell the power to Microsoft (NASDAQ: MSFT) to fueling its data centers that support artificial intelligence. The energy company expects the Unit 1 reactor near Middletown, Pennsylvania to come back online in 2028, subject to approval by the Nuclear Regulatory Commission. The company also expects to extend the plant's operations to at least 2054. Microsoft will purchase electricity from the company in a 20-year agreement, which Constellation described as the largest power purchase agreement that the company ever signed. Unit 1 halted operations in 2019 as nuclear power demand waned in favor of cheaper natural gas and renewables. The plan will be renamed to the Crane Clean Energy Center, named after Chris Crane, who was CEO of Constellation's previous parent company and passed away in April.

Cruise Robotaxies Return to San Francisco Following October 2023 Crash

General Motors' (NYSE: GM) Cruise is returning to San Francisco for the first time since it paused operations after a robotaxi struck a pedestrian in October 2023. The company said Thursday that "several" vehicles driven by humans will operate in Sunnyvale and Mountain View, with the goal of expanding to supervised autonomous vehicle testing of up to five robotaxis later this year. The relaunch comes as Crusie reached a settlement with California's Public Utilities Commission, which included a $112,500 fine for failing to provide full information about the crash. "Resuming testing in the Bay Area is an important step forward as we continue to work closely with California regulators and local stakeholders," the company said in a post on X, formerly known as Twitter. "This will allow our local employees to engage directly with our product as they refine and improve our tech through R&D."

YouTube Unveils Communities, to Compete with Discord, Reddit

Google's (NASDAQ: GOOGL) (NASDAQ: GOOG) YouTube launched a new dedicated forum for creators and fans to interact during its Made On YouTube event on Wednesday. Called Communities, the space allows subscribers to post and interact with each other directly on a creator's channel, offering similar fanbase forums from other platforms like Amazon's (NASDAQ: AMZN) Discord and Reddit (NYSE: RDDT). "This is a place where you and your fans can come together to build even deeper connections over the topics and videos you love, not just posting updates between uploaders or asking for opinions or ideas, but for the first time, subscribers will spark their own discussions with you and with each other," said Bangaly Kaba, director of Product Management at YouTube, at the event. The company is currently testing the feature with select creators, with plans to expand to more channels in early 2025.

Coca-Cola, Bacardi Launching Ready-To-Drink Rum and Coke Cocktails in Select Markets

Coca-Cola (NYSE: KO) and Bacardi Limited announced Tuesday the launch of a new ready-to-drink pre-mixed cocktail: Bacardi Rum and Coke. The new product will be available in several markets globally, with the initial rollout planned for select European markets and Mexico in 2025. "We are continuing to develop our portfolio as a total beverage company, including in the growing alcohol ready-to-drink market," Coca-Cola CEO James Quincey said in a press release. Coca-Cola's latest move reflects the growing spirit market in the U.S., as pre-mixed cocktails sales grew by 26.7% to $2.8 billion in 2023, according to the Distilled Spirits Council of the U.S.' annual economic report. Spirit sales have remained number one in the broader alcoholic market, according to the report, topping both wine and beer for a second straight year.

Boeing Issues Hiring Freeze, Slew of Cost Cutting Measures

Boeing (NYSE: BA) announced widespread cost cutting measures on Monday, including a hiring freeze and "significant reductions" to supplier spending as the company faces a strike of more than 30,000 factory workers. Seattle area workers walked off the job early Friday after their union overwhelmingly rejected a tentative labor deal. "We are working in good faith to reach a new contract agreement that reflects their feedback and enables operations to resume," CFO Brian West wrote in a note to staff. "However, our business is in a difficult period. This strike jeopardizes our recovery in a significant way and we must take necessary actions to preserve cash and safeguard our shared future." Moreover, Boeing will halt most purchase orders for its 737 Max, 767 and 777 models, West said, but will not make cuts to funding for quality control, worker safety and direction customer support.

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