🚀 Driverless Future Close Despite Cruise Closure

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Despite GM's closure of its Cruise robotaxi business, 2024 marked a turning point for autonomous vehicles, with Alphabet-owned Waymo leading the charge toward mainstream adoption. Waymo completed over 4 million paid driverless trips this year, expanded services to multiple cities, and partnered with Hyundai and Geely to enhance its fleet. Tesla, while unveiling its futuristic Cybercab and Robovan concepts, faced criticism for missed deadlines and regulatory hurdles. Amazon's Zoox gained traction with its distinctive "toaster-like" shuttles, securing key permits and launching public trials in several U.S. cities. As the industry evolves, the competition to dominate the burgeoning ride-hailing market, projected to grow to $480 billion by 2032, remains fierce.

2. U.S. airlines faced a turbulent year in 2024, starting with Alaska Airlines' midair door-panel blowout on a Boeing 737 Max 9 and closing with record-breaking holiday demand. Highlights included a blocked JetBlue-Spirit merger, Spirit’s Chapter 11 bankruptcy, Delta's costly IT meltdown, and Southwest's historic decision to assign seats under activist pressure. Mergers made waves, with Alaska acquiring Hawaiian Airlines and plans for global routes, while Delta and United battled for premium passengers, showcasing luxe lounges and new routes. Smaller carriers like Sun Country thrived on niche strategies, while Spirit and Frontier pivoted their models to stay competitive. Despite challenges, the industry ended on a high note, with soaring demand and optimistic outlooks into 2025.

3. Larry Ellison, Oracle's 80-year-old co-founder, has seen his wealth soar by $75 billion in 2024, positioning him among the top three richest individuals globally, thanks to Oracle's 63% stock surge driven by AI-powered cloud infrastructure advancements. Despite setbacks like a revenue forecast miss that caused a 7% dip, Oracle’s strategic AI collaborations with OpenAI, Meta, and Musk's X.ai underscore its focus on growth, bolstered by a multi-cloud strategy with Microsoft, Google, and even rival Amazon. With plans to modernize Oracle Health and a push to expand its database market share, Ellison remains bullish about Oracle's future, envisioning revenue surpassing $104 billion by 2029.

4. Headlines

   1. Trump has named Kevin Marino Cabrera as his ambassador to Cuba.

   2. A poll shows that a majority of US-based investors believe markets will rise under Donald Trump.

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