Welcome back to your daily memorandum talking tech, business, AI, markets, and more. 🗞️

In today’s edition, we are tackling the following:

🎧 YouTube adds AI radio hosts to Music for trivia and commentary.
🕹️ Meta bets big on humanoid robots with new prototype and software platform.
🎮 EA sold in $55B deal, the largest leveraged buyout in history.
⚡ Trump, Qatar, and Egypt push Hamas to accept Gaza peace proposal.
🎬 AI actress Tilly Norwood sparks Hollywood backlash from actors’ union.

TECHNOLOGY

• OpenAI's Sora app lets friends swap AI video cameos (Axios)
  ^{_{More: Bloomberg, NBC News, MacRumors}}

  • OpenAI launched Sora, a TikTok-style social app powered by Sora 2 that creates shareable AI-generated video clips with sound.

  • The app features a cameo function, allowing users to insert themselves or friends into AI videos with consent required.

  • All Sora-generated videos include watermarks and industry-standard metadata to clearly indicate they were created using AI technology.

• Amazon launches revamped Echo speakers (Bloomberg)
  ^{_{More: CNBC, TechCrunch, Engadget}}

  • Amazon unveiled four new Echo devices featuring upgraded silicon and full integration with its Alexa Plus AI subscription service.

  • The Echo Show 8 and Echo Show 11 are priced at $179.99 and $219.99, respectively, while speakers start at $99.

  • Users can connect up to five Echo Dot Max and Echo Studio devices for surround sound with Alexa Home Theater.

• Alexa+ comes to new Fire TV devices with AI-powered conversations (TechCrunch)
  ^{_{More: About Amazon, Engadget, Tom's Guide}}

  • Amazon integrated Alexa Plus into new Fire TV devices, enabling complex questions and tailored recommendations.

  • Users can now search for specific scenes in movies or ask open-ended questions about content using natural language.

  • Alexa Plus is built directly into Vega, Amazon's new smart TV operating system for enhanced conversational search experiences.

BUSINESS

• Spotify's Daniel Ek to become executive chairman as co-CEOs take over (Spotify)
  ^{_{More: CNBC, Variety, NPR}}

  • Daniel Ek transitions from CEO to executive chairman on January 1, ending his nearly two-decade leadership of Spotify.

  • Gustav Söderström and Alex Norström will become co-CEOs, formalizing a structure already quietly operating within the company.

  • Spotify shares dropped 6% following the announcement despite reporting its first full year of profitability in 2024.

• Buffett eyes Berkshire's biggest deal in three years with $10B Occidental buy (CNBC)
  ^{_{More: WSJ, Yahoo Finance, Benzinga}} 

  • Berkshire Hathaway nears $10 billion deal for Occidental Petroleum's OxyChem unit, its largest acquisition since 2022's Alleghany purchase.

  • The deal could be finalized within days as Berkshire deploys its record $344 billion cash hoard under CEO Greg Abel.

  • Buffett already owns 28.2% of Occidental after supporting its 2019 Anadarko acquisition with a $10 billion preferred shares commitment.

• Spirit Airlines files for bankruptcy, secures $475M lifeline (CNBC)
  ^{_{More: NPR, ABC News, Fox Business}}

  • Spirit Airlines filed Chapter 11 bankruptcy for the second time in less than a year, just months after emerging.

  • The budget carrier secured court approval for $475 million bankruptcy lifeline to support operations through its restructuring process.

  • Spirit plans to reject leases on 27 Airbus aircraft as part of reorganization after failed JetBlue and Frontier mergers.

MARKETS

WORLD

• South Africa's ambassador to France found dead in Paris (Reuters)
  ^{_{More: CNN, NBC News, CBS News}}

  • Ambassador Nkosinathi Emmanuel Mthethwa, 58, was found dead at a Paris Hyatt Hotel after falling from the building.

  • His wife reported him missing on Monday after receiving a message from him indicating he intended to end his life.

  • Mthethwa was a former police minister and central figure in South African politics for more than two decades.

• Qatar, Egypt, and Turkey urge Hamas to accept Trump's Gaza plan (Axios)
  ^{_{More: NBC News, The Hill, ABC News}}

  • Three key mediators are pressuring Hamas to give a positive response to Trump's 20-point proposal ending the Gaza war.

  • Hamas negotiators told mediators they will review the plan in good faith after Qatar and Egypt transmitted the proposal.

  • Netanyahu endorsed the plan and promised to finish destroying Hamas if the group fails to accept Trump's proposal.

• Powerful earthquake in the Philippines kills at least 6 in Cebu (NY Times)
  ^{_{More: CNN, Newsweek, Al Jazeera}}

  • A magnitude 6.9 earthquake struck central Philippines near Cebu Tuesday night, killing at least six people and damaging buildings.

  • The quake sent people running into the streets from homes and businesses as the ground shook throughout the region.

  • Central Philippines was still recovering from a Friday storm that killed 27 people before the earthquake struck on Tuesday.

FUTURISM

• Microsoft Copilot Labs debuts AI portraits for voice conversations (The Verge)
  ^{_{More: Windows Central, Neowin, Laptop Mag}}

  • Microsoft launched Portraits in Copilot Labs, featuring animated avatars that lip-sync and emote during voice conversations with users.

  • The feature uses VASA-1 technology, offering diverse portrait options representing varied genders, races, and nationalities for selection.

  • Stylized portraits intentionally avoid photorealism to reduce impersonation risk and clearly signal that the avatar is AI-generated.

• Top AI researchers leave OpenAI, Google, and Meta for a new startup (NY Times)
  ^{_{More: TechCrunch, Bloomberg, PYMNTS}} 

  • Periodic Labs raised three hundred million dollars in seed funding after poaching over twenty researchers from Meta, OpenAI, and DeepMind.

  • Co-founded by ChatGPT creator Liam Fedus and DeepMind's Ekin Cubuk, the startup aims to automate scientific discovery using AI.

  • The company is building autonomous laboratories with robots to accelerate materials science discoveries like superconductors.

• AI actress Tilly Norwood sparks Hollywood backlash from SAG-AFTRA (The Guardian)
  ^{_{More: NBC News, Variety, Deadline}}

  • AI-generated actress Tilly Norwood drew fierce criticism from SAG-AFTRA for devaluing human artistry as agents pursue representation.

  • Creator Eline Van der Velden revealed studios quietly investing in AI avatars to replace actors despite strike agreements.

  • Emily Blunt called Norwood really scary and warned Hollywood agencies not to sign AI performers over human talent.

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CONTENT

• Pavel Durov: Telegram, Freedom, Censorship, Power & Human Nature

  • Durov explains Telegram’s privacy-first philosophy, describing challenges with censorship, global governments, and protecting data.

  • He shares personal philosophies around freedom, power, and money, while reflecting on his upbringing and discipline.

  • The conversation explores geopolitics, corruption, surveillance pressures, and Durov’s approach to building resilient technology.

  Arm CEO Rene Haas on AI: Nvidia Lessons, Intel’s Decline and the US-China Chip War

  • Haas discusses Nvidia’s rise, Intel’s decline, and lessons from working closely with Jensen Huang in AI.

  • He highlights export controls, China’s AI strategy, and the geopolitical race shaping U.S. national technology leadership.

  • The interview covers Arm’s role, semiconductor challenges, and how to foster excellence in American advanced manufacturing.

  Building an AI Physicist: ChatGPT Co-Creator’s Next Venture

  • Fedus and Cubuk explain Periodic Labs’ mission to automate scientific discovery using AI beyond language models.

  • They detail physics and chemistry research challenges, scaling laws, and how machine learning can accelerate breakthroughs.

  • Discussion emphasizes commercial viability, team-building, and balancing scientific goals with industry applications for Periodic Labs.

EXTRAS

• EV tax credit rush as Trump bill ends incentives September 30 (The Verge)
  ^{_{More: CNBC, CBS News, CNN}}

  • Trump's tax bill eliminates federal EV tax credits worth up to seven thousand five hundred dollars after the September 30th deadline.

  • EV sales reached record highs in August, with new sales up seventeen percent as buyers rushed to claim credits.

  • Dealerships offered aggressive incentives with some EV lease rates as low as forty dollars a month to clear inventory fast.

• JPMorgan and Goldman land biggest LBO in history with $55bn EA deal (PE Insights)
  ^{_{More: Bloomberg, Yahoo Finance, Reuters}}

  • Electronic Arts sold to a consortium led by Silver Lake, Saudi PIF, and Affinity Partners for fifty-five billion dollars.

  • JPMorgan committed twenty billion dollars in debt financing, the largest single bank commitment ever for a leveraged buyout deal.

  • Goldman Sachs advised EA while JPMorgan advised Silver Lake, cementing both banks' dominance in megadeal financing and advisory.

• Workslop is oozing into every corner of America's white-collar offices (Business Insider)
  ^{_{More: Harvard Business Review, CNBC, CNN}}

  • Researchers coined the term workslop for AI-generated content that looks polished but lacks substance, requiring nearly two hours of rework.

  • Forty percent of workers received workloads last month, costing companies up to nine million dollars annually in lost productivity.

  • Half of employees view workslop senders as less capable and reliable, creating trust issues and emotional toll in offices.

AND MORE

• U.S. Senate fails to pass funding, Trump warns of ‘irreversible’ cuts.

• Wall Street closes higher amid monthly and quarterly gains.

• How the U.S. shutdown would suspend government economic data releases.

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• Trump says he’ll fire U.S. military leaders ‘on the spot’ if disfavored.

• Defense Secretary Hegseth attacks ‘fat generals,’ urges loyalty in Pentagon.

• India’s gold and silver imports nearly double despite record-high prices.

• Chinese EV makers invest more abroad than domestically for the first time.

• Global M&A deals surge while total deal count falls sharply.