<div id="readability-page-1"><div><div>Wall Street marched higher like it had somewhere to be, fueled by faith in looming Fed rate cuts.AI darlings—and the buzz around Apple's iPhone 17 launch—kept the crowd cheering, promising faster growth just ahead.Then came the plot twist: August inflation ticked up to 2.9%, the highest since January.Jobless claims jumped to 263,000—the worst since October 2021—hinting the labor engine is sputtering.Still, traders expect a 25 bp cut on September 17, and are already whispering about more in October and December.With the macro plot set, investors turned to a crowded earnings slate for fresh clues on margins, demand, and the depth of AI spending.EarningsAdobe Inc. ADBE reported third-quarter earnings of $5.31 per share, which beat the analyst estimate of $5.18.Oracle Corporation ORCL reported first-quarter earnings of $1.47 per share and revenue of $14.92 billion, with both figures slightly under Street estimates. Kroger Company KR reported second-quarter adjusted earnings per share of $1.04, beating the analyst consensus estimate of 99 cents. Quarterly sales of $33.94 billion, marginally missing the consensus view of $34.102 billion.GameStop Corporation GME eported second-quarter net sales of $972.2 million, up from $798.3 million in the prior year’s second quarter. The sales beat a Street consensus estimate of $823.2 million.TechnologyApple Inc. AAPL disappointed markets during its &#34;Awe Dropping&#34; event unveiling the iPhone 17.The firm introduced Apple Watch Ultra 3. The company said Apple Watch Ultra 3 can be pre-ordered today, with availability beginning Friday, September 19.Microsoft Corporation MSFT is planning significant investments in proprietary artificial intelligence chip infrastructure to achieve “self-sufficiency in AI,” according to leaked comments from AI CEO Mustafa Suleyman during an internal town hall meeting.Microsoft Corporation has successfully evaded a substantial antitrust penalty as the European Union has agreed to the tech behemoth’s commitment to separate its Teams platform from its productivity applications.Alibaba Group Holding Limited BABA released its latest artificial intelligence model.Amazon.com, Inc. AMZN is actively developing two pairs of augmented-reality (AR) glasses, marking its foray into a path treaded by its arch-rivals Meta Platforms, Inc. META and Apple Inc.AAPL.AT&amp;T Inc. T CEO John Stankey cast doubt on Apple’s ability to spark blockbuster iPhone sales cycles without a major artificial intelligence breakthrough, while Wall Street analysts said the iPhone 17 lineup delivers upgrades but still feels incremental.Gigs, a mobile services platform, announced Friday a strategic alliance with AT&amp;T, the nation’s largest wireless network.Salesforce, Inc. CRM CEO Marc Benioff expressed admiration for Palantir Technologies Inc. PLTR during Goldman Sachs Communacopia+Technology conference, highlighting the data analytics company’s premium pricing model.Artificial IntelligenceOpenAI CEO Sam Altman admitted he has struggled with sleepless nights since ChatGPT’s debut as he grapples with ethical dilemmas over suicide, privacy and government access to AI conversations, even as the company pursues new chips and a $500 billion valuation.Sam Altman says that Tesla, Inc. TSLA and SpaceX CEO Elon Musk has been upset at the success of ChatGPT.Mercor, founded by three Thiel Fellows who dropped out of Harvard, is reportedly pursuing a Series C funding round targeting a $10 billion valuation amid surging demand from artificial intelligence companies for specialized training experts.AutomobileTesla, Inc.’s TSLA six-seater Model Y L is reportedly sold out in the Chinese market amid the company’s poor sales in multiple regions.NIO Inc. NIO unveiled plans to raise fresh capital through a sizable equity offering.XPeng Inc. XPEV initiated a large recall of its P7+ electric sedan to address a potential steering-assist defect identified by regulators.The U.S. Department of Justice has sued Uber Technologies, Inc. UBER over alleged discrimination against disabled passengers on its platform.WeRide Inc. WRD announced that it expanded into Belgium by launching its Robobus in Leuven. This marks its 11th global market and strengthens its European presence after rollouts in France, Switzerland, and Spain.Rivian Automotive, Inc.’s RIVN partnership with Volkswagen AG VWAGY came into sharper focus at the IAA Mobility event in Munich.Image: Shutterstock</div></div></div>

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Wall Street saw gains driven by optimism over potential Fed rate cuts, despite rising inflation and jobless claims. Key earnings reports included Adobe beating estimates, while Oracle and Kroger fell short. Apple’s iPhone 17 launch disappointed, and Microsoft plans significant AI chip investments. Tesla's Model Y sold out in China, while NIO and XPeng faced challenges. OpenAI's CEO expressed concerns over ethical dilemmas in AI. The tech sector remains active with new developments from Amazon and AT&T.

- Wall Street experienced gains driven by optimism over potential Fed rate cuts, despite rising inflation and increasing jobless claims.  
- Major companies reported mixed earnings, with Adobe exceeding expectations while Oracle and Kroger fell short, and Apple faced disappointment with its iPhone 17 launch.  
- In the tech sector, Microsoft plans significant AI investments, while Tesla's Model Y is sold out in China, and WeRide expands its operations into Belgium.

Consumer Tech News (September 8 – September 12): Rally Rolls On As iPhone 17 Underwhelms, Microsoft Bets On AI Chips, Oracle Reports Q1