Greetings, Cheddheads!

Vote for the winner of this week’s world famous News Haiku^TM competition in today’s poll below!

Now let’s talk about today’s news you Need2Know, shall we?

—Matt Davis, Need2Know Chedditor

News You Need2Know

• The CEO powering the robot revolution

• 30 years later, Pixar resurrects 2D animation

• OpenAI now worth $500 billion, is the world’s most …

• Wall Street ticks to more records, led by technolo …

• Tesla sales jump after months of boycotts

• New show alert: The Business of Defense

What’s the stock market up to, eh?

$SPX ( ▲ 0.06% ) $DJI ( ▲ 0.17% ) $NDX ( ▲ 0.39% )

Companies mentioned in today’s newsletter

Roboforce $DIS ( ▼ 0.72% )  $NVDA ( ▲ 0.88% )$AMD ( ▲ 3.49% )  $AVGO ( ▲ 1.44% )  $TSLA ( ▼ 5.11% )  $RIVN ( ▼ 7.39% )  

The CEO powering the robot revolution

"RoboForce is building the world's most advanced robot labor to take on the things that we shouldn't have humans doing. Think about the things that are dirty, dull, and dangerous," said Leo Ma, founder and CEO of RoboForce, whose company makes humanoid robots. He envisions "millions and many millions of robots in our society" tackling high-value, hazardous tasks.

The company’s own robot, Titan, is already making waves in clean energy, manufacturing, logistics, and data centers. "It's very precise. It's indoor and outdoor. Very strong. And the more you use it, the smarter it is," he said.

Addressing concerns about job displacement, Ma said: "We're building AI robotic systems to enable businesses and protect people." He stressed the dual value of providing labor where shortages exist and protecting human workers from risky conditions. With 11,000 robot orders from over 12 countries, RoboForce is poised for significant growth.

Song of the day: Doja Cat, ‘Jealous Type’

Doja Cat’s 80s-inspired song “Jealous Type” is full of nostalgic pop bombast, but don’t forget, also, rap. Even if you hate the song you’ll probably enjoy the video. My editor today loves this song.

30 years later, Pixar resurrects 2D animation

30 years ago, “Toy Story” — the first-ever theatrical-length, computer-generated animated film — hit theaters to such massive critical and commercial success that the franchise is still going with a new film releasing next summer.

This radical triumph changed the American animation industry forever but not totally in a positive way. Toy Story’s major achievement, much to the chagrin of the people who worked on it, was to kill American 2D animation. Every hand-drawn 2D American animated film released post-Toy Story flopped, and studios believed the reason was because they were not made with computers in three dimensions (not because, you know, they were bad). This caused movies like “Chicken Little” and “Shrek” to abandon their hand-drawn roots and switch to three-dimensional computer graphics. 

After Pixar was purchased by Disney, “Toy Story” director John Lasseter was promoted to Chief Creative Officer of Pixar as well as Walt Disney $DIS ( ▼ 0.72% ) Animation Studios, and he tried to revive 2D animation in the states with “The Princess and The Frog.” The film underperforming at the box office was the style’s final nail in the coffin. 

Abroad, theatrical 2D animation never stopped. Now, with imported movies like “The Boy and The Heron” and “Demon Slayer: Infinity Caste” becoming surprise hits, the viability of theatrical 2D animation in the states is restored. 

Pixar has been waiting for this moment. Quietly, they have been developing their own method of 2D animation within their Disney Plus Spark Shorts program with great films like “Kitbull,” “Burrow,” and “Twenty Something,” which you should absolutely check out if you haven’t already. They are preparing to release their first theatrical length 2D animated feature, “Gatto” in 2027.

Pixar may have accidentally killed American theatrical 2D animation, but, thanks to the help of overseas hits, they might also resurrect the genre. Fingers crossed.

—Grant Keller

Today on the ‘gram: I wish I had $9.7 billion in cash

Post of the day: Today in tech news

Quote of the Day

OpenAI now worth $500 billion, is the world’s most valuable startup

OpenAI has reached a monumental valuation of $500 billion, cementing its position as the world’s most valuable startup, ahead of giants like SpaceX and ByteDance.

The San Francisco-based AI company, known for ChatGPT, achieved the milestone after a secondary stock sale that allowed employees to cash out $6.6 billion worth of shares. Major investors, including Thrive Capital, Dragoneer Investment Group, SoftBank, and the UAE’s MGX, contributed to the valuation, signaling the immense potential they see in generative AI technology.

While OpenAI’s trajectory is astonishing, concerns of an AI bubble loom large. Addressing these fears, OpenAI CEO Sam Altman remarked, “Between the ten years we’ve already been operating and the many decades ahead of us, there will be booms and busts. People will overinvest and lose money, and underinvest and lose a lot of revenue.” Altman emphasized the long-term promise of AI, stating, “Over the arc that we have to plan over…we are confident that this technology will drive a new wave of unprecedented economic growth.”

So that’s alright, then. Regular investors still can’t buy into the company because it hasn’t IPO’d.

Should you check your 401(k) today?

👍️ 

Yes.

Wall Street ticks to more records, led by technology stocks

Wall Street reached new highs again yesterday as technology stocks powered markets higher, even in the face of growing uncertainty stemming from a U.S. government shutdown.

Typically, Thursday trading is influenced by the weekly jobless claims report, but the ongoing government shutdown has delayed this data, adding uncertainty to market predictions. Friday’s highly anticipated monthly jobs report is also unlikely to be released on time. Brian Rehling, head of global fixed-income strategy at Wells Fargo Investment Institute, highlighted potential challenges, noting, “The Fed has been on record that they are very data dependent, and the lack of data from public sources is likely to be problematic.”

Despite the absence of key labor data, investors remained optimistic, with corporate announcements taking center stage. AI and tech stocks were among the top performers. Nvidia $NVDA ( ▲ 0.88% ) rose 0.9%, while Advanced Micro Devices $AMD ( ▲ 3.49% ) and Broadcom $AVGO ( ▲ 1.44% ) climbed 3.5% and 1.4%, respectively. However, concerns about a potential bubble in AI-related stocks persist.

The broader U.S. stock market also showed resilience, shrugging off the shutdown as history suggests minimal long-term economic impact. As Rehling observed, “There will always be bumps on the road, but markets remain forward-looking.”

Tesla sales jump after months of boycotts

Tesla $TSLA ( ▼ 5.11% ) saw a 7% jump in sales for the third quarter, delivering 497,099 vehicles compared to 462,890 in the same period last year. After months of declining sales, this sharp rise offers a moment of reprieve for the electric vehicle maker, but analysts suggest the increase may be more of a temporary blip than a long-term recovery.

The rise in sales comes as consumers rushed to take advantage of a soon-to-expire $7,500 EV tax credit, which helped boost demand across the industry. Rival Rivian $RIVN ( ▼ 7.39% ) , for example, posted an even greater sales increase of 32%. Reflecting this skepticism, Tesla’s stock rose briefly before closing down 4.5% on the day. Sam Abuelsamid of Telemetry Insight told the Associated Press: “I don’t think most people are any more enamored with Elon now than they were a few months ago. I expect this is more a blip for Tesla than the restart of growth.”

The controversy surrounding Musk remains a significant factor. His political commentary and public support of far-right figures in Europe have alienated some buyers. Even Tesla bull Dan Ives of Wedbush Securities admitted there are “still demand issues.”

Still, my father-in-law just bought a 2021 Tesla off his mate for $22.5k, and it’s rather nice, actually. He won’t let me drive it, of course, although he did let his mate Shaun at the golf club take it for a spin right in front of me #Jealous. The golf club offers free charging for Teslas while you’re on a round, incidentally, which is genius, I think, as it offers my father-in-law the chance to save like $10 in charging fees every time he plays golf. He has also contemplated covering the car’s logo with a sticker refuting Musk’s more extreme politics, but is yet to do so #Priorities.

Poll of the day: News haiku!

This week’s haikus are based on a new word or expression from Merriam Webster’s dictionary.

Poll of the day: Clankers aren’t above the law

We asked: Should cops be able to ticket robots?

You answered;

🟩🟩🟩🟩🟩🟩 Yes, these clankers shouldn't be able to escape justice (557)

⬜️⬜️⬜️⬜️⬜️⬜️ No, robots should be above the law! (5)

 🟨⬜️⬜️⬜️⬜️⬜️ Bleep, blorp! (106 votes)

668 Votesvia @beehiiv polls

New show alert: The Business of Defense

The global defense industry represents a staggering $2.5 trillion market, with the United States alone investing nearly $1 trillion in its military capabilities. From company boardrooms to Pentagon briefings, the decisions made today are reshaping how nations protect themselves and project power.

On October 9 at 8 p.m. ET, wherever you watch Cheddar, we'll take you inside this high-stakes world. We'll meet the industry's most influential players, explore cutting-edge innovations in AI. We examine the next generation of smart tanks, ships, precision-guided missiles, and reveal the breakthrough technologies that are redefining modern warfare.