Wednesday Sector Laggards: Transportation Services, Entertainment Stocks

New York’s Fashion Workers Act would create basic labor protections for models—including around digital replicas and AI-generated content. If you follow fashion, you’re undoubtedly familiar with New York Fashion Week. It’s more than a series of runway shows; it’s a cornerstone of the global fashion industry—a vibrant celebration of creativity that brings together the most talented designers and artists in the world.

Grok-2 has now made fun of Elon Musk, found an enemy in Mark Cuban, and sparked alt-right backlash. Late Friday night, Elon Musk’s xAI opened up Grok-2 access to the masses. The model isn’t all that different from the original Grok, though the company claims it runs faster and has improved accuracy.

Nearly a third of young people now use ChatGPT to complete tasks at work. “Me and ChatGPT,” reads one TikTok post with 13.4 million views. The video shows a girl joyfully running through a field, handing flowers to a blurred-out partner. Set to Arctic Monkeys’s “No. 1 Party Anthem,” it seems to be a modern-day love story.

People picketing outside a Starbucks store in New York's East Village in 2023 during the last Starbucks Workers United strike. Spencer Platt/Getty ImagesStarbucks' biggest workers union on Tuesday went forward to authorize a nationwide strike. It said that the coffee chain had not settled hundreds of unfair labor practice cases.

Databricks' valuation jumped 44% from 2023. Smith Collection/Gado/Getty ImagesDatabricks is raising $10 billion, boosting its valuation to $62 billion. The funding round is led by Thrive Capital and includes major investors like Andreessen Horowitz. Databricks plans to invest in AI products, acquisitions, and international expansion. Databricks is raising $10 billion in its latest funding round, bringing its valuation to $62 billion, the AI startup said on Tuesday.

Travis Kalanick's food empire has a new head for its restaurant tech business. Theo Wargo/WireImageGuido Gabrielli is leaving restaurant tech company Otter after five years, per a company email viewed by BI. Otter's new head is Ashvin Kumar, who most recently worked at fintech Affirm. Otter is a nearly $70 million a year business, Travis Kalanick wrote in an email to staff.