HAPPY SATURDAY TO THE STREET
And welcome back to Street Tweets from The Street Sheet!
Most of Tesla’s (TSLA) big swings are announced unceremoniously via Elon Musk tweet. Its latest was revealed behind closed doors.
The EV maker quietly unveiled the Cybercab in Austin last week, to an invite list of mostly friendly influencers. Every one of them signed an NDA.
The company now has 256 unsupervised robotaxis on the road across six cities. Waymo, owned by Alphabet (GOOGL), runs about 4,000 across 14.
So the cars are finally unsupervised. The coverage, not so much.
For a company that’s not afraid of overpromising and underdelivering, that’s either a big bull signal, or a very bad sign…
— Brooks & The Street Sheet Team
MARKET REVIEW & PREVIEW
Markets shrugged off fresh US strikes on Iran and rising rate hike odds to finish the week roughly flat, with the S&P 500 barely moving and the Nasdaq up a little less than 0.5%. Friday's jobs report in particular shifted the rate cut calculus: 162K jobs added in August, nearly triple forecasts, and the strongest print since March, clearing the way for the Fed to potentially tighten policy.
Next week is inflation's turn. Thursday brings the Producer Price Index, which ran 4.7% year over year last month. Meanwhile, Friday brings Core CPI, which ticked down to 2.4%. Both land days before the Fed meets on September 15. A hot reading in either would make a quarter-point hike much harder to argue against.
"Unconfirmed" is doing a lot of heavy lifting here.
Every time an AI company drops a new model, one thing is for sure:
X will act like it just invented Ultron.
At least someone is hoping it’s not all hyperbole.
If the math holds, OpenAI accounts for a quarter of Microsoft (MSFT) Azure’s revenue. And Microsoft is OpenAI’s biggest backer.
Talk about a snake eating its own tail…
Finally, product-market fit!
Hinge, owned by Match Group (MTCH), is "designed to be deleted."
Does that included the database?
For a company built on knowing where everyone is at all times…
Palantir (PLTR) CEO Alex Karp seemed a little lost at G20.
