Walmart deploys robots, Amazon cutting costs, and Elon is spending cash 💰

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Without further ado, here’s you scoop below👇

🤖 Walmart is deploying robotic forklifts in distribution centers

• Walmart is stepping up its efforts to keep up with Amazon in terms of warehouse automation. The company recently announced a partnership with Austin-based startup Fox Robotics to deploy 19 robotic forklifts in its distribution centers. Read more

🦾 Humane wants to replace smartphones with its AI Pin

• The smartphone has dominated the consumer tech market for 17 years, but its reign may be nearing an end as demand has plateaued. Humane, a company that began teasing its innovative product through mysterious videos in 2022, aims to offer a new direction in consumer tech with its AI-powered Humane AI Pin. Read more

🏦 Elon’s SpaceX is spending lots of cash

• Confidential financial statements from SpaceX for the years 2018 and 2019 reveal the company's financial situation during a pivotal period. These years were crucial as SpaceX advanced its Falcon Heavy rocket and crew Dragon capsule projects while also launching its first 60 Starlink satellites. The company reported net losses of $308 million and $501 million, respectively. Read more

👨‍💼Amazon is cutting costs and still investing in AI

• Amazon CEO Andy Jassy, in his third annual shareholder letter, emphasized the company's focus on continuing to innovate and invest in emerging growth areas such as artificial intelligence (AI) while maintaining cost discipline across its operations. Jassy noted the company's potential for further improving customer experiences in various business segments and pledged to continue searching for cost efficiencies in Amazon's retail business. Read more