🗞️Robots are here

October 29th, 2025

What happened today 🇺🇸,

• X1 Tech has unveiled the world's first consumer-ready humanoid home robot, called Neo, designed to autonomously perform household chores such as folding laundry, organizing cabinets, and cleaning, while also offering personalized assistance through natural voice commands…Neo features advanced AI capabilities that allow it to learn and improve tasks over time, along with safety-focused hardware, including a soft polymer body, gentle movements, and the ability to self-charge, with pre-orders already open and shipments expected in 2026

• President Trump finalized a trade deal with South Korea that maintains the overall U.S. tariff on South Korean goods at 15%, while lowering duties on South Korean automobiles from 25% to 15%…in exchange, South Korea committed to investing $350 billion into the U.S. economy, with $200 billion in cash installments capped at $20 billion annually and $150 billion allocated for cooperation and investment in the U.S. shipbuilding industry, supporting American jobs and strengthening economic ties between the two countries

• Democratic congressional candidate, Kat Abughazaleh, has been federally indicted by the Department of Justice for her alleged involvement in a protest outside an Immigration and Customs Enforcement (ICE) facility in Broadview, Illinois

• OpenAI is preparing for a potential initial public offering (IPO) as early as 2027, following its recent restructuring into a for-profit public benefit corporation

• Nvidia has officially became the first company in history to reach a $5 trillion market capitalization

• General Motors announced layoffs of approximately 1,750 permanent workers and an additional 1,550 temporary furloughs at its electric vehicle plants in Michigan and Ohio due to slower EV adoption and changing regulations

• Uber plans to launch a robotaxi service in the San Francisco Bay Area in late 2026, marking its reentry into the autonomous ride-hailing market…this move positions Uber in direct competition with established players like Waymo and Tesla in the autonomous taxi space within San Francisco

• Paramount Skydance began laying off about 1,000 employees today, many of the firings were people at CBS News which Paramount owns…there are plans for an additional 1,000 job cuts soon, totaling roughly 10% of its 20,000-employee workforce

• The Federal Reserve has cut interest rates by 25 basis points (.25%) marking its second rate cut of 2025…the benchmark federal funds rate now ranges between 3.75% and 4%, the lowest level since late 2022

• DOW down .16% / S&P flat on the day

• Israel has reinstated the ceasefire in Gaza after executing a series of airstrikes that killed more than 100 Palestinians

Plus: A look at which universities are producing the most billionaires

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