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

In today’s edition we are tackling the following:

🍏 OpenAI hires Apple hardware talent and suppliers to build its own ecosystem.
🎮 Microsoft raises Xbox console prices in U.S. due to tariffs and rising costs.
📱 Apple’s iPhone 17 launch sparks global demand, with Pro Max leading early sales.
⚡ Meta blames software overload for AI smart glasses demo failures at Connect.
☢️ Pakistan signals nuclear access for Saudi Arabia under new defense agreement.

TECHNOLOGY

• Microsoft (once again) increases Xbox prices in the US

  • Microsoft is raising Xbox Series X price to $649.99 and Series S to $399.99 effective October 3 due to tariffs and rising costs.

  • Price hikes affect U.S. market only while accessories remain unchanged (for now).

  • Tariffs on supply chain components pushed Microsoft to raise console prices twice this year.

• Apple launches iPhone 17 globally with strong demand

  • iPhone 17 launch features upgrades in screen durability, front camera, battery and draws long lines in China and globally.

  • Pro Max model, brightest and most advanced, expected to lead sales and help regain market share vs Huawei and Xiaomi.

  • Entry-level models selling well too pushing Apple to boost production as AI strategy questions linger.

• Google adds agentic Gemini features to Chrome for Mac and Windows

  • Google is integrating Gemini AI into Chrome on Mac/Windows letting users ask questions, summarize pages and work across tabs.

  • New ‘agentic browsing’ features will let Chrome do multi-step tasks such as placing orders, scheduling events, and consolidating content.

  • Gemini’s free availability now includes desktop users without requiring Pro/Ultra subscription boosting adoption.

BUSINESS

• OpenAI raids Apple for hardware talent, manufacturing partners

  • OpenAI is hiring Apple hardware designers and tapping Apple’s supply chain to build its own AI-devices ecosystem.

  • The move aims to give OpenAI more control over device hardware rather than relying solely on external partners.

  • Product timelines point toward releases in late 2026 or early 2027 using suppliers already trusted by Apple.

• Trump suggests China approves TikTok deal, though app’s fate still unclear

  • Trump claims that China may have agreed to a deal shifting U.S. control of TikTok amid continued uncertainty.

  • Framework likely includes U.S. majority ownership and changes to algorithm licensing and content oversight.

  • Final terms not yet confirmed sources say decision on TikTok’s U.S. operations still pending.

• xAI raises $10 billion at $200 billion valuation

  • xAI secured $10 billion in fresh funding pushing its valuation to $200 billion as investor enthusiasm remains strong.

  • Proceeds will expand data center infrastructure acquire high-end GPUs and scale up next-generation AI model training.

  • The funding positions xAI among top global AI firms as it races to compete with larger incumbents.

MARKETS

WORLD

• NATO member Estonia says three Russian jets violated its airspace

  • Three Russian MiG-31 fighter jets entered Estonian airspace for twelve minutes without flight plans or transponder signals.

  • Incident happened near Vaindloo Island and triggered protest by Estonia and call for NATO Article 4 consultations.

  • Italian F-35s intercepted and escorted the jets out amid concern over escalating regional security tensions.

• Pakistan says its nuclear program can be made available to Saudi Arabia under defense pact

  • Under the new defense agreement, Pakistan may make its nuclear capability accessible to Saudi Arabia if required.

  • Pact establishes that an attack on one country is considered an attack on both under mutual defence terms.

  • This signals deeper Saudi-Pakistani security ties and raises questions about regional deterrence and diplomatic balances.

• US deportees sue Ghana over ‘illegal’ detention

  • Eleven West African individuals deported from the U.S. are suing Ghana, claiming their detention is unlawful.

  • They were flown to Ghana, held in a military camp yet allegedly did not break any local laws.

  • Lawyer demands they be produced in court and government justify their continued detention without charges.

FUTURISM

• Meta explains live AI smart glasses demo failures

  • Meta’s CTO says live demos at Connect 2025 failed due to software overloads triggered by too many devices using AI simultaneously.

  • In one demo, a cooking task mis-behaved when “Live AI” got activated on all glasses in venue instead of just one.

  • A second failure involved the video call HUD sleeping just as a notification came in preventing interaction.

• Why California’s SB 53 might provide a meaningful check on big AI companies

  • The bill requires developers earning over $500 million from AI models to disclose safety frameworks and risk assessments.

  • It mandates reporting critical safety incidents within strict timelines and protects whistleblowers raising concerns.

  • Supports transparency and accountability aimed at major AI labs rather than burdening small startups with excessive regulation.

• Octopus Energy spins off its Kraken utility billing and AI platform

  • Kraken platform, built by Octopus Energy, has $500 million in committed annual revenue from external utility clients.

  • Octopus is spinning off Kraken into a standalone entity to support growth and scale its AI and billing services.

  • Spin-off aims to expand beyond energy into sectors like water and telecoms while retaining high margins.

CONTENT

• If Anyone Builds It, Everyone Dies Party

  • Event celebrated release of Yudkowsky and Soares’ new book with speakers spanning physics, psychology, filmmaking, and AI safety.

  • Discussions ranged from AI’s existential risks to practical activism including hunger strikes and PauseAI advocacy.

  • Featured voices included Max Tegmark, Liv Boeree, Gary Marcus, Emmett Shear, and Rob Miles sharing AI perspectives.

• My AI agents scrape Google Maps to make $$$ in boring businesses

  • Greg Isenberg and guest James outline a workflow using AI to find overlooked high-value niches via Google Maps.

  • Strategy focuses on underserved tier-2/3 cities, converting review data into insights for local lead-generation businesses.

  • Approach creates newsletters, directories, and media assets generating recurring leads with minimal overhead and fast scaling.

• How to turn $10K into $400,000 with distressed investing

  • Shaan Puri and Thomas Braziel explain distressed investing strategies through FTX claims and other real-world case studies.

  • Insights cover buying positions cheaply, controversy management, and how to treat early failures as ‘tuition.’

  • Episode highlights long-term thinking, calculated risk, and methods for capturing upside in distressed asset markets.

• Your AI-powered, Slack-connected finance team

  • Afino handles bookkeeping, tax prep, R&D credits, and CFO support—all built for startup speed.

  • Get clarity and control with a finance team that lives inside Slack.

  • Get one FREE year of corporate taxes for the first 5 companies that book today.

EXTRAS

• Nvidia and Intel explain $5 billion deal, sites say

  • Nvidia will invest $5B in Intel and take about a 4-5% stake while working together on data center and PC chips.

  • Partnership focuses on integrating Intel’s CPUs with Nvidia graphics via NVLink and co-developing multiple next-gen products.

  • Move seen as competitive threat to AMD and strategy to boost Intel’s foundry efforts around its upcoming 14A manufacturing process.

• Supreme Court doesn’t immediately act on Trump bid to fire Cook

  • Chief Justice requested that Fed Governor Lisa Cook respond by Sept. 25 to Trump’s effort to remove her, pausing action for now.

  • Cook has served in position despite removal order she denies, while courts ruled lower that her firing attempt was unlawful.

  • Case will test limits of the President’s power to dismiss independent agency officials under for-cause terms.

• Fed’s Stephen Miran dissents arguing for sharper interest rate cut

  • Governor Miran was lone vote at the Fed arguing for a half-point rate cut instead of the quarter-point majority settled on.

  • He contends that tariffs are not significantly inflationary and that disinflation could be helped by recent immigration reductions.

  • His stance suggests growing tension within the Fed over how aggressively to ease policy despite rising inflation fears.

AND MORE

• Stellantis unveils a lighter, faster charging EV battery integrating power electronics.

• U.S. vaccine advisers abandon a universal COVID shot recommendation for adults.

• Apple’s iPhone 17 launch draws long lines at its Beijing store.

• AI’s rapid growth sparks concern over rising energy and water demands.

• Roko’s Basilisk skips the buzz words and cuts straight to what moves markets, products, and careers. Read it over coffee, sound brilliant on your next call.*

• Brazil to become the first country investing in the Tropical Forests Forever Facility.

• BlackRock and Vanguard reduce dialogue with companies due to new investor guidance.

• Travel-tech firm Navan reports 30 percent revenue surge in IPO filing.