Mecka AI collects and analyzes human motion data to train humanoid robots and other kinds of robots. The startup pays people to record everyday tasks.

Endeavor Catalyst just raised $320 million to keep backing founders outside Silicon Valley. Half the profits go back to the nonprofit that finds them.

Wall Street closed lower on Wednesday, as long-dated US Treasury yields resumed their climb, reviving fears about inflation and mounting debt the day after the S&P 500 and the Nasdaq hit record closing highs. All three major US stock indexes were modestly lower, with the S&P 500 and the Dow snapping four-day winning streaks. The Nasdaq notched its first down day in six. Brent crude settled above US$100 per barrel and long-dated Treasury yields touched a 24-year high. Iran war-related supply concerns have led to soaring oil prices, which in turn have revived inflation worries and raised the chances of a prolonged central bank rate hiking cycle. Those concerns, combined with mounting corporate and sovereign debt levels, have caused a global bond selloff, which rattled global markets in recent weeks. Investors "have been looking for some relief on oil, which would drive some relief on rates and that would therefore help the stock market," said Thomas Martin, senior portfolio manager at GLOBALT in Atlanta. "The third quarter was supposed to be the weak quarter of the year; we were supposed to get a correction," Martin added. "That didn't happen, so it's three cheers and let's take some money off the table." Stocks pared losses after crude prices turned lower following the International Energy Agency's agreement to speed up the release of oil stocks, prioritising diesel. Minutes from the US Federal Reserve's September monetary policy meeting, at which the central bank unanimously approved its first interest rate hike since July 2023, revealed divisions over the rationale of the increase. Some participants saw a hike as necessary to keep the impact of energy price shocks at bay, while others felt the increase was necessary to curb demand-driven inflation. Financial markets are currently pricing in a 17.2 percent likelihood that the Fed will implement a second consecutive rate hike at the conclusion of its October meeting, down from 37.6 percent a week ago, per CME's FedWatch tool. "The market's Fed expectations are going to seesaw as it gets new bits of data," Martin said. "There's still an expectation for more rate hikes, but it isn't necessarily going to be a hike every meeting and that's what the market is telling you; October will be a pause." The Dow Jones Industrial Average fell 341 points, or 0.7 percent, to 51,180, the S&P 500 lost 17 points, or 0.2 percent, to 7,801 and the Nasdaq Composite lost 61 points, or 0.2 percent, to 27,538. SpaceX lost 2.5 percent following media reports that Elon Musk's aerospace firm was seeking US$40 billion in financing to fund purchases of Nvidia chips. Next week, third-quarter reporting season is expected to begin in earnest with a spate of high-profile financial firms expected to post results. Investors are likely to scrutinise the extent to which massive expenditures on AI technology are beginning to show results, while also watching for clues regarding the health of the US consumer at a time of mounting inflationary pressures. (Reuters) Edited by Cecil Wong