Electric Vehicle Makers Face Challenges as Demand Softens
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Rivian laid off 10% of its workforce due to more difficult market conditions and pricing pressure in the EV space. The company has struggled to meet early, ambitious production targets.
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Lucid Motors and Ford both announced price cuts on EVs in response to softening market demand and growing price sensitivity among consumers.
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An Florida retailer bought most of Cake's U.S. electric motorbike inventory as the company goes bankrupt. Faraday Future missed rent payments on its LA headquarters.
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VC funding in the video game industry dropped to a 5-year low in 2022 despite the sector's huge revenues. But VCs remain optimistic for a rebound.
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OpenAI introduced Sora, an AI model that creates detailed, movie-like video scenes from text descriptions or images. It shows a deep understanding of language and physics.