Joby, Saudi Investor Eye Air Taxi Deal Worth Up to $1 Billion
Joby Aviation Inc. is working toward an agreement to sell as many as 200 of its air taxis to a major Saudi Arabian investor in a deal potentially worth as much as $1 billion.
Joby and Abdul Latif Jameel, a Jeddah-based group named after its late founder and run today by his family, have signed a memorandum of understanding 'to explore opportunities to establish a distribution agreement in Saudi Arabia for Joby's electric aircraft,' according to a joint statement Tuesday.
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2 hours ago
- New York Post
Slick-talking, cowboy hat-wearing robot dubbed ‘Jake the Rizzbot' spits Gen Z and Gen Alpha slang, leaving strangers gobsmacked
The Wild West meets Wall-E. A slick-talking, cowboy hat-wearing robot, unofficially named 'Jake the Rizzbot,' stunned both Texas locals and the Internet with its proficiency in both Gen Z and Gen Alpha slang while out on the town last week — even inspiring a Bitcoin in its honor. The child-sized, AI-powered robot — complete with a knockoff cowboy hat and silver chain — was captured on video all around Austin, Texas during its training out in the wild. The little engine did its best to jog down sidewalks and even talked to awed passersby, while spitting the latest slang, clips shared online show. 3 Jake the Rizzbot was captured on video galavanting through Austin, Texas last week. Storyful Jake left no stone unturned as it galavanted through Austin. The robot, which is operated by a person through a wireless controller, is manufactured by the China-based Unitree Robotics. The Unitree G1 humanoid agent was originally unveiled last May, clocking in at 4 feet tall and 77 pounds. It sells for around $16,000, but prices often vary, according to the Unitree website. The robot is meant to serve as an 'AI avatar' that develops 'based on deep reinforcement learning and simulation training,' according to the company website. Jake is thankfully still learning and, despite his name, isn't able to pick up ladies at the bars just yet. Still his 'rizz' impressed Austin locals enjoying the nightlife last week. The man who owns and operates Jake accompanied it on the test run. He was eager to show off his latest gadget and wasn't bothered when Jake started to run out of battery, instead telling people that they 'might get to see it faint.' 3 Jake is a Unitree G1 humanoid agent that sells for around $16,000. Storyful 'Hey! My name is Jake, but perhaps better known as Rizzbot. It's nice to meet you,' Jake began in a video captured by a man it encountered, before diving straight into the typical lauding praise it's known for. 'Ma homie, that beard is cold and that mustache is hard, you look clean, nephew. Gee, that black smartwatch is straight iced out, and that white tee's bangin'. You got that clean drip locked down, you got that boss energy G, and you rockin' it with style. Props to you, you are a solid boss 'fo real,' the bot said, borrowing several terms from Gen Z and Gen Alpha. As videos of Jake went viral, people online were left gobsmacked — and even scared about what bots like it mean for the future of artificial intelligence. 3 The robot relies on a learning AI program to operate. 'Let it walk around the parking lot by Macy's I bet it will get robbed,' one user commented. 'It's all fun and games until the cowboy robot pulls out a machete,' one man wrote. Despite becoming a quick microcelebrity online, Jake doesn't have an official social media account. It's unclear who exactly owns the bot — the man who accompanied it in Austin hasn't been publicly identified — and why its AI has been trained to flatter strangers.
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- Business of Fashion
Salomon and Arc'teryx Help Amer Sports Defy Downturn With Athleisure Bet
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It's among the mid-tier luxury brands offering shoppers high-quality goods that don't break the bank. The bulk of this rally occurred recently, following first-quarter results that defied a rocky global economy. Sales topped expectations, and the company raised its outlook while others cut theirs. Growth of its Technical Apparel and Outdoor Performance divisions — which respectively house Arc'teryx and Salomon — boosted results, Chief Executive Officer James Zheng said in the most recent earnings call, highlighting the brands' potential. While Salomon sneakers surpassed $1 billion in sales in 2024, it's a fraction of the $180 billion global sneaker market, and Arc'teryx is 'very under-penetrated globally,' he said in the call. Amer Sports declined a request for an interview with an executive. Reversal of fortunes Amer Sports wasn't always this successful. 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Customer Chris Rojes said he doesn't mind paying more for Arc'teryx's gear over other brands. 'You feel more special in them.' Arc'teryx distinguishes itself from other outdoor apparel brands like Patagonia Inc. and VF Corp's The North Face through a 'much higher level of premiumization,' said TD Cowen analyst John Kernan, who has a buy rating on Amer Sports. Despite higher prices, consumers are willing to pay for Arc'teryx's 'leading innovation.' Declining consumer brand loyalty and a growing desire for variety also creates an opportunity for Salomon and Arc'teryx to gain market share from industry leaders like Nike Inc. and Adidas AG, Vasilescu said. To keep flying high, Amer Sports needs to go global, analysts said, warning that it's an uphill battle. 'We believe that the global brand rollout will not be easy' due to Arc'teryx's high price points and intense competition in Western outerwear markets, said HSBC analyst Akshay Gupta, who has a hold rating on the company. 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Business Wire
5 hours ago
- Business Wire
MITER Brands Announces Sale of Eze-Breeze Porch Enclosures
HARRISBURG, Pa.--(BUSINESS WIRE)-- MITER Brands, a leading provider of high-quality windows and doors, is pleased to announce the sale of its Eze-Breeze Porch Enclosures brand to Bob Keller, the current President of Eze-Breeze, in partnership with Jewell Hollow LLC and its Managing Partner, Zach Coopersmith. Eze-Breeze, a market-leading and trusted name in the porch enclosure market, was started in 1980 by current MITER Brands board member Rod Hershberger and will now operate as an independent entity under the ownership of Keller and Coopersmith. The sale reflects the commitment of MITER Brands to streamline its business operations and concentrate resources on its core products and brands. This divestiture will enable MITER Brands to more effectively and efficiently allocate resources to increase production capacity in its other Florida-based window and door facilities, supporting its commitment to manufacturing the finest products, services, and customer experiences every day, everywhere. 'We are incredibly pleased that Eze-Breeze is being acquired by Bob Keller, whose expertise and vision align perfectly with the brand," said Ali Zahrieh, Senior Vice President of Strategy and M&A with MITER Brands. 'This transaction allows MITER Brands to further focus on our glass window and door products and related technologies while ensuring that Eze-Breeze is provided the dedicated attention needed for the brand to thrive." "I am excited to lead Eze-Breeze into a new era, with a focus on expanding the brand and fostering growth opportunities for our team and partners,' shared Keller. 'With support from my partner Zach Coopersmith, Managing Partner of Jewell Hollow LLC, our dedicated team is looking forward to strengthening the long-standing relationships with our trusted dealers and collaborating to advance their businesses and the Eze-Breeze brand." 'Bob has been a respected leader within the building products industry for decades, and having worked closely with him since 2016, I have seen firsthand the vision, focus, flexibility, integrity, and inspiration he provides to a team,' added Rod Hershberger, MITER Brands board member. 'Eze-Breeze was the original product brand that I helped bring to the market back in 1980, and it has been enhancing the lives of homeowners ever since. I'm thrilled to see Bob leading it into its next chapter, and I am excited for the future of the Eze-Breeze brand and team with him at the helm.' About MITER Brands Founded in 1947, MITER Brands is a residential window and door manufacturer that produces a portfolio of window and door brands for the new construction and replacement segments with an owner-operated, family-first approach. With more than 20 manufacturing facilities throughout the United States, MITER Brands is a nationwide supplier of precision-built and energy-efficient products. Through optimized manufacturing, valued relationships, and dedicated team members coast to coast, MITER Brands instills confidence and drives quality customer experiences. For more information, visit About Eze-Breeze Eze-Breeze, established in 1980, is the leading manufacturer of innovative porch and patio enclosure systems, proudly made in the USA. With a strong reputation for quality, flexibility, and ease of installation, Eze-Breeze products help homeowners and builders create versatile, comfortable outdoor living spaces. Committed to customer satisfaction and dealer success, Eze-Breeze combines industry expertise with a family-oriented approach to deliver solutions that enhance the way people enjoy their homes. For more information, visit About Jewell Hollow Jewell Hollow is an investment firm that partners with exceptional operators and founders of private companies across a wide range of industries. With flexible, creative capital solutions, Jewell Hollow invests across the capital structure—including debt and equity, minority or majority positions—tailoring each investment to fit the needs of its partners. The firm backs visionary teams with an 'operator-first' philosophy at its core. Above all, Jewell Hollow is built around people. It is driven by a deep respect for legacy, aligned partnerships, and the belief that great businesses are shaped by the strength of those who lead them.
