Author: The Business Worldwide

AI Startup Instinct, an artificial intelligence startup founded just last year, has raised $350 million in total funding at a valuation of $2.5 billion, marking a remarkable rise for a company led by 23-year-old founder Noah Shinn.

The startup, operated by Spear Street Technology, has attracted significant attention from early users with its AI assistant, helping it capitalize on the intense investor enthusiasm surrounding AI businesses. According to the Wall Street Journal, Instinct raised $250 million in a recent Series B funding round, bringing its total capital raised to $350 million.

The latest funding round was co-led by venture capital firms Index Ventures and Benchmark, highlighting growing investor confidence in the company despite its relatively short operating history.

AI Assistant Designed to Manage Daily Life

AI Startup Instinct is an AI agent designed to help users organize and manage everyday tasks. The service can be connected to users’ applications and devices, allowing them to interact with the assistant through text messages and phone calls.

Shinn said early users are already putting the technology to work in a variety of practical ways. According to the founder, users have used Instinct to organize cross-country road trips, purchase groceries and concert tickets, and cancel hundreds of dollars worth of subscriptions.

One user has even begun using the assistant to help plan a wedding, Shinn said, illustrating the broad range of tasks the company hopes its AI agent can handle.

Privacy Concerns Emerge

Despite the excitement surrounding Instinct, the startup has also attracted scrutiny over privacy and security issues. The service remains in private beta, but concerns have emerged online regarding the extensive permissions required to connect the assistant with users’ applications and devices.

Some users have also questioned aspects of Instinct’s terms of use, arguing that certain provisions could give the company broad access to personal information and data.

The concerns highlight a broader challenge facing AI assistants that are designed to take action on behalf of users: greater functionality often requires access to increasingly sensitive information.

High Expectations Ahead

Instinct’s rapid funding and multibillion-dollar valuation reflect the enormous investor appetite for AI startups promising autonomous digital assistance. However, the company will need to address privacy concerns while demonstrating that its technology can deliver meaningful value at scale.

With its product still in private beta, Instinct’s next phase will likely determine whether its early popularity can translate into sustained growth and justify its ambitious valuation.

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The second edition of the World Humanoid Robot Games in Beijing has offered a striking display of both the progress and limitations of humanoid robotics. Viral footage from the event shows humanoid robots sprinting at speeds that appear to surpass the 100-meter world record set by Usain Bolt, while other robots struggled to slow down, crashed into barriers, collapsed on the track and, in some cases, broke apart or caught fire.

Held from August 22 to 26, the event brought together humanoid robots for a wide range of competitive challenges. The games are designed to demonstrate advances in robotic movement, coordination and artificial intelligence while highlighting the growing capabilities of China’s rapidly developing robotics industry.

From Sprinting to Soccer

Like the inaugural games in 2025, this year’s competition featured robots competing in sprinting, standing high jump, kung fu, dancing, kickboxing, soccer and table tennis. The expanded programme also included practical household tasks such as washing and hanging laundry.

However, the contrast between athletic performances and everyday activities was notable. While some robots demonstrated impressive speed and physical coordination, their performance in routine domestic tasks appeared considerably slower than that of humans.

The event is being supported by Chinese state media and the Beijing city government, which are seeking to highlight the potential commercial applications of humanoid robots as investment and development in the sector accelerate.

Major Advances in Whole-Body Control

The improvement in athletic performance compared with last year points to significant progress in robotic whole-body control. Dipam Patel, a computer science PhD candidate at Purdue University and research assistant at the US Army DevCom Army Research Lab, said the ability to complete movements such as sprinting requires coordinated control of multiple joints and body parts.

He noted that the progress between the two editions reflects substantial engineering advances. Yet, he cautioned that the machines remain far from becoming truly general-purpose autonomous robots capable of performing a broad range of tasks independently.

Designed for Specific Tasks

The dramatic crashes also illustrate the limitations of current systems. Some running robots appeared capable of accelerating rapidly but struggled to decelerate or stop after crossing the finish line.

According to Patel, many of the robots were specifically engineered and optimized for individual competitions rather than designed as versatile machines. Different robots were used for different challenges, reflecting a task-specific approach.

The Humanoid Robot Games therefore demonstrate an important reality of humanoid robotics: impressive performance in a controlled task does not necessarily translate into flexible, real-world autonomy.

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Foldable smartphones have come a long way since Samsung introduced its first Galaxy Fold in 2019. What was once an expensive experiment has evolved into a rapidly developing category, with manufacturers competing to improve durability, battery life, displays and overall usability.

This year’s devices offer a clearer picture of where the industry is heading. Motorola and Samsung have adopted high-density silicon-carbon batteries, Motorola continues experimenting with distinctive materials and finishes, while Google has focused heavily on durability. However, innovation remains expensive, with component costs and limited memory supplies adding pressure to already premium prices.

That progress has also raised expectations for Apple, which is widely expected to introduce its first foldable iPhone soon.

Samsung Pushes Hardware Forward

Samsung’s latest Galaxy Z Fold 8 series demonstrates how hardware design can make foldables more practical. The standard model adopts a shorter and wider form factor, addressing one of the longstanding drawbacks of conventional foldable phones.

When closed, the Galaxy Z Fold 8 features a 5.5-inch AMOLED display, making it easier to hold and operate. Once unfolded, users get a 7.6-inch display with a 4:3 aspect ratio. The larger screen is suited to reading and productivity in portrait mode while providing a more immersive experience for movies, television and gaming in landscape mode.

The design also reduces the letterboxing often associated with foldable displays, making better use of the available screen real estate.

Lessons for Apple

Samsung’s broader experiments, including its Galaxy Z TriFold, suggest that consumers may not necessarily want a smartphone Foldable iPhone that simply transforms into a massive tablet. Instead, the demand appears to be shifting toward wider displays that make long-form content, gaming and multitasking more enjoyable.

The Galaxy Z Fold 8 illustrates this evolution by balancing portability with a genuinely useful large-screen experience. Its approach could influence the next generation of foldable devices across the industry.

For Apple, the challenge will be to enter an increasingly mature market with more than a novel form factor. Its foldable iPhone will need to deliver meaningful improvements in design, durability, software integration and everyday usability. With competitors already refining the category, Apple’s opportunity may depend on how effectively it learns from the successes—and limitations—of the devices that came before it.

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The prospect of a new wave of bank mergers is gaining momentum as regulatory conditions become more favourable under the Trump administration. After years of limited dealmaking, major U.S. lenders are once again considering acquisitions that could significantly expand their scale.

While JPMorgan Chase and Bank of America face restrictions because their national deposit shares already exceed 10%, Wells Fargo and Citigroup have sufficient capacity to pursue sizeable regional banks, according to investment bankers, consultants and investors.

Regulatory Barriers Ease

Both Wells Fargo and Citigroup have spent much of the past decade operating under significant regulatory constraints. Citigroup faced multiple consent orders, while Wells Fargo operated under an asset cap that restricted its growth.

Those barriers have begun to ease, creating greater room for strategic expansion. Brian Graham, co-founder of advisory firm Klaros, said deals that would have been difficult to approve only two years ago could now become viable.

A large acquisition could provide either bank with thousands of additional branches and billions of dollars in deposits, strengthening their competitive position as the industry increasingly prioritises scale.

Different Benefits for Citigroup and Wells Fargo

For Citigroup, an acquisition could help address one of its biggest challenges in the U.S.: a relatively small domestic branch footprint. The bank operates roughly 650 U.S. branches, leaving it with fewer opportunities to gather low-cost deposits compared with larger domestic rivals.

Buying a regional lender could provide Citi with an established branch network and a substantial deposit base, potentially improving its funding profile while accelerating its U.S. expansion.

Wells Fargo, meanwhile, already operates one of the country’s largest branch networks. A major regional acquisition could therefore focus more heavily on scale, operational efficiencies and cost reductions.

KBW analyst Chris McGratty said the banking industry is facing a growing “race for scale,” increasing pressure on lenders to act while regulatory conditions remain supportive.

Five Regional Banks Stand Out

Although the U.S. has more than 4,200 banks, only a limited number would meet the requirements for a transaction involving Wells Fargo or Citigroup.

Potential targets must be large enough to materially strengthen the buyer while remaining below the 10% national deposit threshold. They also need complementary branch networks, strong deposit franchises and compatible corporate cultures.

Applying those criteria leaves five regional banks as particularly compelling candidates for either Wells Fargo or Citigroup.

A successful deal could give the buyer greater scale, stronger deposits and additional cost-saving opportunities, while potentially accelerating consolidation across the U.S. banking sector.

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Amazon is significantly expanding its Prime Air drone delivery network, with plans to reach nearly 500 cities and towns across the United States by the end of 2026. The planned expansion would represent roughly a sixfold increase from the service’s current footprint and bring ultrafast delivery to communities representing tens of millions of customers.

Prime Air allows eligible products to be delivered by drone in as little as 30 minutes. The service offers millions of items across categories including groceries, electronics, cosmetics, medications and household products, combining rapid delivery with Amazon’s everyday pricing.

David Carbon, vice president of Amazon Prime Air, said the company has already completed hundreds of thousands of drone deliveries this year. He added that the service is designed to provide customers with a faster alternative when they need products quickly.

Growing U.S. Footprint

Prime Air currently operates across seven states, with delivery sites serving areas of approximately 175 square miles each. Existing locations include Tolleson in Arizona, Ruskin in Florida, Kansas City in Kansas, Papillion in Nebraska, Baton Rouge in Louisiana, and several communities across Michigan and Texas.

Texas currently has multiple Prime Air locations, including Richmond, San Antonio, Richardson and Waco, while Hazel Park and Pontiac serve the Detroit metropolitan area.

Amazon is also preparing to launch Prime Air in additional metropolitan markets. Planned locations include Chicago, Syracuse, Cleveland, Atlanta and Boise, with further communities expected to join the network later this year.

Millions of Products Eligible

The service is designed to handle a broad selection of products rather than being limited to a narrow range of emergency or convenience items. Eligible inventory includes popular consumer products as well as harder-to-find products across Amazon’s marketplace.

Products such as Apple iPhones, Samsung Galaxy smartphones, AirTags, AirPods, Ring doorbells and kitchen accessories are among the items that can qualify for drone delivery.

Nearly all products weighing five pounds or less and fitting inside a large shoebox can be eligible. Amazon estimates that more than 60% of the products customers purchase most frequently fall within the requirements.

While deliveries can arrive in as little as 30 minutes, Amazon says most orders currently reach customers in approximately 60 minutes, depending on location and operating conditions

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