🤖 "The Robots Are Coming" Says...?

Good morning. US stock futures fell in Wednesday morning trading as investors were underwhelmed by quarterly reports from megacap tech companies.

🤖 Musk touts humanoid robot sales in near future

📝 Our report: Get ready for robot roommates! Tesla CEO Elon Musk announced that the company will start selling its Optimus humanoid robot in 2026. “Tesla will have genuinely useful humanoid robots in low production for Tesla internal use next year and, hopefully, high production for other companies in 2026,” the executive posted on X.

 🔑 Key points:

• During Tesla’s earnings call, Musk also estimated that the long-term demand for general purpose humanoid robots is "in excess of 20 billion units," a number he got to by combining the 8 billion people on Earth who will apparently want one with the industrial use cases.

• The market for humanoid robots has changed substantially since Optimus’ 2021 spandex unveiling. Some have even credited Tesla’s announcement with motivating some top competitors to disclose their own efforts earlier than they might have otherwise.

• In spite of the buzz surrounding Tesla’s Optimus robot, Tesla was not the first company to begin working on a humanoid form factor — nor, according to available evidence, is it the furthest along as competitors such as Boston Dynamics and Apptronik have been developing, testing and rolling out their own robotic offerings.

💡 So what: Elon Musk's announcement that Tesla's Optimus humanoid robot will be ready for sale in 2026 has significant implications, including potential advancements in robotics and AI, disruption of the robotics market, and increased automation that could transform workplaces and daily life. This development might drive investment opportunities and boost Tesla's stock value while raising concerns about job displacement, human-robot interaction, and data privacy. The announcement also positions Tesla for strategic diversification and enhances its brand as an innovator, though it will necessitate discussions around regulation, safety, and ethical use of humanoid robots.

Wednesday - No Major Economic News

Thursday - U.S GDP

Friday - Consumer Sentiment

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🤖 Google takeover offer rejected by startup

WHAT: Cybersecurity startup Wiz has turned down Alphabet's $23 billion acquisition offer, opting instead to return to its original plan of going public, according to a company memo seen by CNBC and others. In a memo to Wiz employees, as reported by CNBC, CEO Assaf Rappaport noted “saying no to such humbling offers is tough” but that the company had instead chosen to focus on its own next milestones — which include going public and reaching $1 billion in annual recurring revenue.

WHY: The proposed deal to acquire Wiz, while now off the table, was aimed at elevating Alphabet's profile in the cloud computing market, a space currently led by Amazon and Microsoft.

🎵 Spotify CEO says customers asking for premium tier

WHAT: Spotify CEO Daniel Ek doubled down on the music streaming giants move to offer an additional premium tier, saying customers have “really been asking for it” as he delivered remarks during the company’s second quarter earnings call. The company is set to introduce a more expensive premium plan later this year, Bloomberg reported in June. The plan will reportedly cost $5 more per month and include enhanced features, like superior audio quality and more advanced tools for creating playlists and managing libraries.

WHY: In June, Spotify announced it would hike the prices of its premium US subscription plans, with increases set to take effect this month. Spotify previously raised prices last summer.

🛒 Italy goes after Amazon’s wallet

WHAT: Italy's tax police have seized around 121 million euros ($131 million) from Amazon's Italian unit in a probe into alleged tax fraud and illegal labor practices, according to prosecutors' documents. In a 94-page order, the Milan Prosecutors' Office accuses the logistic services unit Amazon Italia Transport of circumventing labour and tax laws, relying on cooperatives or limited liability companies that supplied workers while omitting VAT tax duties and reducing social security payments.

WHY: Similar investigations have targeted other large businesses in recent years including global delivery groups DHL and UPS, German logistics firm DB Schenker and Italian supermarket chain Esselunga, prosecutors said.

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