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General Motors said the conversational Google Gemini artificial intelligence will begin rolling out in its vehicles next year.
In the next three years, the automaker also plans to launch a new system that lets drivers go hands free and take their eyes off the road but still take control of the vehicle when they want.
The company announced other tech initiatives as part of its “GM Forward” event in lower Manhattan.

Mary Barra speaks onstage during WSJ’s Future of Everything 2025 at The Glasshouse on May 28, 2025 in New York City.
Dia Dipasupil | Getty Images

NEW YORK — General Motors is targeting a suite of new software initiatives for its vehicles over the next three years, including an in-vehicle artificial intelligence assistant from Google and a driver-assistance system that can largely control the vehicle without human interaction or monitoring.
GM said the conversational Google Gemini AI will begin launching in its vehicles next year, followed by the new driver-assistance system, which will allow drivers to be hands-free and take their eyes off the road under certain circumstances, in 2028.

GM CEO Mary Barra and other executives made the announcements Wednesday as part of a “GM Forward” software event that also showcased other initiatives designed to “transform the car from a mode of transportation into an intelligent assistant,” the automaker said.
The company also announced that it is working on a new centralized computing platform, which is planned to roll out starting with the Escalade IQ in 2028; increased use of collaborative robots, also known as cobots, that can work alongside humans; and expanding availability of products from its GM Energy business.

GM displays its plans for a new centralized computing platform during the automaker’s “GM Forward” event on Oct. 22, 2025, in New York City.
Michael Wayland | CNBC

“Today we’ll share our vision for our vehicles, our industry and how we’re driving the future of transportation forward,” Barra said to kick off the event in lower Manhattan.

‘New era of mobility’

GM said the announcements are meant to usher in a “new era of mobility” for the company, which has struggled to achieve such initiatives in the past. Its previous efforts included announcing plans in 2021 to double revenue by 2030, led by many now-defunct growth businesses, as well as growing annual software and services revenue to between $20 billion and $25 billion.
In recent years, it also killed an “Ultra Cruise” system meant to be able to drive in 95% of circumstances that was initially due to come out in 2023 and folded its Cruise robotaxi business.

GM executives on Wednesday declined to discuss revenue potential of the new announcements. CFO Paul Jacobson has previously walked back the doubling revenue goal, but has noted the company’s growing revenue, up 9.1% last year to $187.44 billion.

GM graphic of the automaker’s upcoming centralized computing design that’s set to debut in the Cadillac Escalade IQ in 2028.

GM President Mark Reuss on Wednesday said the company’s revenue plans are “pretty much on track … maybe a year or two different” as it plans to continue to grow revenue, especially with the technologies announced Wednesday. He also said these initiatives are “very different” than prior announcements, as they’re tangible products that are entering the market shortly.
As of the third quarter of this year, GM recognized $2 billion from software services. That’s up from 2021, when the plans were announced and it took the full year to hit that mark. It also cited $5 billion in deferred revenue, up 90% from a year earlier, to end the third quarter.
The event comes a day after GM reported standout third-quarter earnings and upped its guidance, pushing the stock to have its second-best day on record since the automaker’s 2009 emergence from bankruptcy.
GM stock on Wednesday was trading relatively flat.

AI

GM said the artificial intelligence system from Google, which its infotainment system is developed on, will make “it possible to talk to your car as naturally as you would to a fellow passenger.”
“Our vision is to create a car that knows you, that looks out for you, and just meets your needs, even before you say,” Sterling Anderson, GM chief product officer, said during the event.
Anderson called the centralized computing a “foundational piece” of the company’s plans in increasing the capabilities of its vehicles.

GM Chief Product Officer Sterling Anderson during the automaker’s “GM Forward” event on Oct. 22, 2025 in New York City.
Michael Wayland / CNBC

The Detroit automaker said it expects to update select vehicles from the 2016 model year to all new models in the U.S. beginning next year with the AI tech.
GM also said it plans to develop its own “AI, custom-built” technology in the years to come but did not provide an exact time frame.
“In the future, we will introduce our own AI fine-tuned to your vehicle,” said David Richardson, a former Apple executive who is now GM vice president of software and services engineering. “Think of this as an assistant. It’s going to anticipate your needs, offer timely help and make every journey more personable and more enjoyable.”

Hands-free, ‘eyes-off’

GM said it plans for its upgraded advanced driver-assistance system, also known as ADAS, to feature hands-free, “eyes-off” driving technology, beginning on the Cadillac Escalade IQ EV, which currently starts around $127,500, in 2028.
The automaker then expects to expand the availability of the tech to other models, company executives said.
“Autonomy will make our roads safer. They’ll give customers back their most valuable asset: time. It’ll be a cornerstone of GM product portfolio going forward,” Anderson said.

Cadillac Escalade IQ with lidar

The vehicle will use lidar, or light detection and ranging, systems that allow it to better detect or “see” its surroundings. Tesla CEO Elon Musk has notably been a critic of the technology, and his company’s vehicles rely on camera-based systems and computer vision.
“Just be clear, we’re developing a self driving product,” Anderson, a former Tesla executive, told CNBC. “It’s an eyes-off, self-driving system. As it relates to use of lidar in it, your product will be better with multiple modes of sensing, period. Full stop.”
Anderson, calling it an “ocean that’s too big to boil,” said the system is expected to evolve incrementally to its full potential.
GM declined to say whether the new technology will be called “Super Cruise,” which is its current system that allows drivers to be hands-free on 600,000 miles of pre-mapped roads in North America.
The current Super Cruise system monitors a driver’s attentiveness through the use of sensors and eye-detection cameras.
GM was the first automaker to offer such a hands-free system in 2016, but it was slow to roll out the technology until recent years.
Barra said the rollout of the new system will be significantly faster than the company’s initial expansion of Super Cruise.

GM Energy

Starting in 2026, GM said it will make its “Energy Home System” — which includes bidirectional electric vehicle charging and a stationary home battery — available via leasing, compared with outright purchasing the equipment.
The leasing will begin with GM all-electric vehicles owners and later roll out to other homeowners interested in backup power and solar integration, the company said.
GM Energy launched in 2022 as one of the automaker’s growth initiatives involving EVs. It was started to rival Tesla’s home energy systems and provide battery packs, EV chargers and software to help customers optimize charging and ride out electric grid disruptions.
GM has not disclosed the size or revenue of its GM Energy business other than a blog by Wade Sheffer, vice president of GM Energy, that said momentum for its services are growing.
“It’s really incredible to see all the great things that are right on the horizon, and I know we will deliver for our customers, and that’s what matters most,” Barra said. “This moment builds on our history and sets the course.” More

The NHL signed a multi-year licensing deal with Kalshi and Polymarket, becoming the first major U.S. sports league to partner with prediction market platforms.
The agreement gives both companies access to NHL data and logos, and grants the league new customer protections.
Kalshi CEO Tarek Mansour called it a “seminal moment” for prediction markets and hinted that similar deals with other leagues could follow.

The National Hockey League said Wednesday it’s reached a multi-year licensing agreement with prediction markets Kalshi and Polymarket. More sports leagues may be coming soon.
Tarek Mansour, Kalsh’si co-founder and CEO, told CNBC’s “Squawk Box” the deal marked a “seminal moment” for prediction markets and the company.

“A league like the NHL partnering with us is a strong sign that prediction markets are here to stay,” Mansour said.
As part of the NHL deal, Kalshi and Polymarket will gain access to the league’s proprietary data and rights to use NHL marks and logos. In return, Mansour said, the hockey league will get a suite of customer protections. The NHL said both companies will receive brand exposure during broadcasts.
Mansour said the NHL deal could be replicated across other leagues: “Be on the lookout for more announcements soon,” he told CNBC.
Representatives for the NBA and NFL did not immediately respond to requests for comment. MLB declined to comment.
In August, the NFL expressed its concern about prediction markets, which allow customers to trade on the outcomes of events across entertainment and culture like election results or the length of the ongoing government shutdown.

Kalshi and other event trading platforms are regulated by the Commodity Futures Trading Commission. Yet many states, regulators and tribes are pushing back on prediction markets, arguing they amount to unregulated gambling. Multiple state and federal lawsuits are in progress over the alleged risks.
The American Gaming Association said in a statement Wednesday that the NHL deal “sends a troubling message.”
“The platforms in question fail to comply with essential standards,” the AGA said. “Worse, they are currently offering sports wagers in all 50 states to anyone 18 years of age—some of which have not authorized any form of legal sports betting and those that have largely define 21 as the prevailing legal age for wagering.”
Keith Wachtel, president of NHL Business, told CNBC he feels comfortable with Kalshi and Polymarket from a regulatory and integrity standpoint, noting that sportsbooks like FanDuel and DraftKings have also struck partnerships with prediction platforms.
He said the league’s interest in prediction markets lies in the opportunity to reach new fans.
“What’s great about prediction markets is it goes beyond sport,” he said. “It gives opportunity to watch a different audience grow significantly.”
Mansour said criticism of the market is par for the course for a disruptor and that he feels confident in Kalshi’s regulatory setup. He said Kalshi has spent years working with the federal government to create a regulated prediction markets.
“When we think about the announcement today, the NHL deal is really about that. It’s essentially a validation of the fact that we have established the right set of customer protection and the right set of market integrity measures to protect our markets, but also the game,” he said. More

Walmart is pausing the hiring of candidates who need H-1B visas, a person familiar with the matter said.
President Donald Trump raised the fees for those visas to $100,000.
Walmart is one of the largest U.S. employers of those visa holders.

A Walmart store is shown in Oceanside, California, on May 15, 2025.
Mike Blake | Reuters

Walmart is pausing the hiring of job candidates who need H-1B visas to work in the U.S., according to a person familiar with the decision, an example of the ways the Trump administration’s immigration policies are shaping corporate strategy.
Walmart’s decision comes after President Donald Trump in September announced higher fees for the visas, which allow companies to temporarily hire skilled workers from other countries such as China and India. The Trump administration said it would now require companies to pay a $100,000 fee for each new visa application. It said the decision was intended to protect American workers’ jobs and end abuse of the visa.

In a statement, a Walmart spokesperson said, “Walmart is committed to hiring and investing in the best talent to serve our customers while remaining thoughtful about our H-1B hiring approach.”
Exceptions to the pause on H-1B hiring are possible in some cases, said the person familiar with the decision, who was not authorized to discuss it publicly. 
H-1B visas, which Congress created in 1990, have been a way for companies to bring in skilled workers from other countries when they can’t find qualified applicants in the U.S. It’s been frequently used for filling science, technology, engineering and math roles.
The program has an annual cap of 65,000, along with an additional 20,000 visas for foreign professionals with a master’s degree or doctorate from a U.S. institution, according to U.S. Citizenship and Immigration Services. If demand is above the cap, a lottery system is used.
For the Trump administration, the steeper fee on H-1Bs is intended as a deterrant for companies who are weighing whether to hire a foreign worker over an American. It fits into Trump’s broader goal of using trade policy and an immigration crackdown to compel companies to invest in their U.S. operations and hire U.S.-born workers.

Walmart is the nation’s largest private employer with about 1.6 million employees in the country at the end of the most recent fiscal year, and most work in the company’s big-box stores and warehouses. However, H-1B visas are typically used for a small portion of Walmart’s corporate ranks. 
The retail giant’s corporate workforce is based in its headquarters of Bentonville, Arkansas, as well as major U.S. cities like the San Francisco Bay Area.
Walmart had 2,390 employees on H-1B visas, making it the ninth largest U.S. employer to issue the visas, according to U.S. government data as of June 30. Microsoft is No. 1 with 5,189, followed closely by Meta, the parent company of Facebook.
Yet the decision has faced pushback by some in the corporate world. Earlier this month, the U.S. Chamber of Commerce filed a lawsuit challenging the new H-1B visa fee.
In a news release, the U.S. Chamber’s Chief Policy Officer Neil Bradley said the fee “will make it cost-prohibitive for U.S. employers, especially start-ups and small and midsize businesses, to utilize the H-1B program, which was created by Congress expressly to ensure that American businesses of all sizes can access the global talent they need to grow their operations here in the U.S.”
Walmart’s policy change was first reported by Bloomberg. More

Warner Bros. Discovery has rejected three takeover offers from Paramount Skydance, CNBC’s David Faber reported.
The last offer came in just under $24 per share and was comprised of 80% cash, Faber reported.
WBD said this week it had received “unsolicited interest” from multiple parties.

CEO of Warner Bros. Discovery David Zaslav speaks to members of the media as he arrives at the Sun Valley lodge for the Allen & Company Sun Valley Conference on July 8, 2025 in Sun Valley, Idaho.
Kevin Dietsch | Getty Images News | Getty Images

Warner Bros. Discovery has rejected three Paramount Skydance takeover offers as it fields broad buyout interest, CNBC’s David Faber reported Wednesday, citing sources.
Paramount’s last offer was for just under $24 per share and comprised of 80% cash, according to Faber, who previously reported a bid could come in at between $22 and $24 per share.

WBD said on Tuesday it had received “unsolicited interest” from multiple parties and that it would expand its strategic review process to review all bids. At the same time, the company is moving ahead with previously announced plans to separate into two entities: a streaming and studios business and a global networks business.
Faber reported Tuesday that Netflix and Comcast were among the interested parties.
This story is developing. Please check back for updates. More

Prices across the fashion industry are on average $17 higher this year compared to last.
Jackets and outerwear saw the steepest increase with prices on average 24% higher while swimwear saw the lowest at 2% higher. 
Prices have been moving higher over the last few years but tariffs are expected to quicken the pace of cost increases.

People shop for clothing at a Costco store in Monterey Park, California on November 22, 2022.
Frederic J. Brown | Afp | Getty Images

Prices are rising across the fashion industry – with jackets and outerwear seeing the steepest year-over-year increases, according to a new report from consulting firm AlixPartners published Wednesday. 
The firm analyzed how much prices have climbed between 2024 and 2025 across nine categories, from swimsuits to dresses. Prices in all of the categories it tracked have risen by an average of $17 year over year. 

Jackets and outerwear saw the largest increase, with prices on average 24% higher, while swimwear saw the smallest hike at 2% on average. 
As the U.S. starts to cool down and winter approaches, consumers looking for new coats and jackets could be spending a lot more at the register – if they choose to buy. One factor that’s weighed on the category is a late start to fall, which typically leads to weak demand for outerwear. Coupled with higher prices, retailers that bet big on outerwear in the fall and winter months might have a harder time moving product, which could lead to inventory challenges in the spring, said Sonia Lapinsky, the head of AlixPartners’ global fashion practice and the report’s author.
“[Retailers] have a normal discounting cadence that says by late November, early December, you’re already starting to put this stuff on sale, on discount, and a consumer may not have even thought about it by then,” said Lapinsky.
“We’ve had so many discussions with retailers about the whole flow of their seasons, and some have made decisions to push some product out further because fall is starting to feel more like late summer,” she added. “Not all of them have been that reactive. So it’s absolutely a cause for concern if they haven’t made any adjustments.”
Here’s how much prices have risen in the fashion industry by category.  More

Consumers are becoming desensitized to the retail industry’s constant stream of promotions ahead of Black Friday and Cyber Monday, a new report from consulting firm AlixPartners said.
Instead of deciding to buy something based on price, more consumers are now prioritizing value and quality, according to AlixPartners.
The findings come as the retail industry prepares for a holiday shopping season that could be weaker than previous years amid falling consumer sentiment, an uncertain job market and consistent inflation.

Visitors are caught in the reflection of a store offering 50% off on all items on the Third Street Promenade in Santa Monica on July 16, 2024. 
Genaro Molina | Los Angeles Times | Getty Images

A steady stream of promotions across the fashion industry has left consumers suffering from “discount burnout” ahead of Black Friday and Cyber Monday, according to a new report from consulting firm AlixPartners released Wednesday. 
The firm surveyed over 9,000 U.S. consumers on their preferences and priorities across 140 retailers and nine fashion sectors. The report found shoppers see price increases as “inevitable,” and cost has become less important to them when they are deciding whether to buy new clothes or accessories.

On average, the value of importance respondents assigned to price dropped 13% compared to last year and fell across all sectors except for luxury and beauty, the survey found. Meanwhile, 30% fewer consumers ranked sales and finding the best deal as “very important” compared to last year, even in the off-price sector, where deal hunting fell from the fell from the top factor respondents were considering to number 19
In the aftermath of President Donald Trump’s tariff increases on dozens of countries in April, retailers leaned on discounts and promotions to alleviate consumer concerns that prices were rising because of trade policy, said Sonia Lapinsky, the head of AlixPartners’ global fashion practice and the report’s author. But now there’s “fatigue” around promotions and shoppers are looking for more than just a discount, she said. 
Consistent pricing between stores and online, value for the money and quality are among the top things shoppers are prioritizing when spending, she said. They’re also looking for a better store experience. While more than 60% of shoppers surveyed plan to make over half of their fashion purchases in stores this holiday, the amount of time shoppers are spending in stores dropped 3% and basket size fell 5% over the last two years, the report found. Percent change in avg. weekly visits per store, dwell time and basket size1. Cohort of 50 U.S. retailers, first 20 weeks of 2023-2025
“We have higher foot track traffic and lower baskets. Something’s missing that they’re not converting,” said Lapinsky. “So what is it about that experience in-store that’s not helping them convert?”
The findings come as the retail industry prepares for a holiday shopping season that could be weaker than previous years amid falling consumer sentiment, an uncertain job market and persistent inflation. The tough economic backdrop coloring the holiday season is putting a renewed focus on execution, quality and brand strength, especially as many retailers raise prices to offset the cost of tariffs. 

Lapinsky said the survey’s findings are a “warning” for retailers that discounts won’t be enough to drive demand this holiday season. 
“They’ve always had this lever of discount to drive traffic and get folks into the store, but when you’re compounding it with tariffs and their need to raise prices … that lever for them is going to become even more risky,” said Lapinsky. “It’s not necessarily going to work the way it has, because of this fatigue.” 
The luxury sector, where price rose in importance for shoppers as a factor when they are spending, provides a cautionary tale for the retail industry, the report said. Over the last few years, brands “dramatically raised prices,” the firm said, citing Chanel’s decision to increase the price of one of its bags from $5,800 to $11,300 between 2019 and 2025 as an example. 
The sudden spike led consumers to pull back from the sector and trade down to premium brands “that felt more rationally priced,” the report said. 
“The same dynamic applies across other sectors,” the report said. “Retailers who attempt to hold the line on pricing by reducing quality risk losing credibility.” More

Shares of Netflix fell after the company posted a third-quarter earnings miss.
The streamer cited an ongoing dispute with Brazilian tax authorities for the weaker-than-estimated results.
Revenue for the quarter rose 17%, in line with analyst expectations.
Netflix said it posted its best ad sales quarter ever during the period.

Shares of Netflix fell around 7% in extended trading Tuesday after the company posted a third-quarter earnings miss, citing an ongoing dispute with Brazilian tax authorities for the weaker-than-estimated results.
The streamer said the specific expense, stemming from a 10% tax on certain payments made by Brazilian entities to operations outside the country, was not previously in its forecast. The company decided to charge the impact to its third quarter after it became reasonably likely that Netflix would lose a legal challenge over whether it would be assessed the tax, executives said.

“It’s not a tax that’s specific to Netflix. It’s not even specific to streaming,” Chief Financial Officer Spence Neumann said on the company’s earnings call. “Absent this expense, we would have exceeded our Q325 operating income and operating margin forecast, and we don’t expect this matter to have a have a material impact on our results going.”
Revenue for Netflix’s third quarter rose 17%, in line with analyst expectations, boosted by membership growth, pricing adjustments and increased ad revenue. For the fourth quarter, Netflix expects revenue to rise 17% year over year as those trends continue.
Here’s how the company did in the period ended September 30, compared with estimates from analysts polled by LSEG:

Earnings per share:  $5.87 vs. $6.97, according to LSEG
Revenue: $11.51 billion vs. $11.51 billion, according to LSEG

Netflix reported third-quarter net income of $2.55 billion, or $5.87 per share, up from $2.36 billion, or $5.40, in the same quarter a year prior.
For the full-year, Netflix is projecting $45.1 billion in revenue, a 16% jump from the year prior and in line with previous expectations of revenue growth of between 15% and 16%.

The company did alter its operating margin forecast for the year, citing the Brazilian tax matter, and now expects that metric to be 29% instead of the prior projection of 30%.
Still, Netflix said it posted its best ad sales quarter ever during the period, with co-CEO Greg Peters noting that the company is on track to more than double ad revenue this year.
“Netflix had its best ad sales quarter to date, but still did not provide a figure for how large the ad business is,” said Ross Benes, senior analyst at EMarketer, in a statement. “This gives the impression that the sustained revenue growth achieved this quarter, and forecasted for next quarter, will predominantly continue to come from subscription fees.”
Netflix raised its prices in January, including the cost of its ad-supported tier.
The streamer’s fourth-quarter slate of content contains a number of alluring titles, from the fifth and final season of “Strangers Things” and new seasons of “The Diplomat” and “Nobody Wants This” to Guillermo del Toro’s “Frankenstein” and Rian Johnson’s “Wake Up Dead Man: A Knives out Mystery.”
Netflix is also still riding the coattails of “KPop Demon Hunters,” which was released on the platform back in June. The animated film has become Netflix’s most-watched film with more than 325 million views on the platform.
Netflix announced Tuesday it’s expanding the animated film’s consumer reach with a dual product partnership with leading toy companies Hasbro and Mattel. “KPop Demon Hunters” dolls, plush, roleplay items and themed games will be available at retail in spring 2026. 
The company also noted that it is looking into incremental opportunities related to live experiences, publishing, beauty and lifestyle as well as food and beverages related to the film. “KPop Demon Hunters” is returning to theaters once again during the Halloween holiday weekend. More

Mattel missed earnings and revenue expectations for the third quarter.
CEO Ynon Kreiz said the company was “challenged in the third quarter by industry-wide shifts in retailer ordering patterns.”
During the third quarter, global sales of Barbie and Fisher-Price declined by double digits.

The Mattel, Inc. logo is displayed outside the headquarters of the toy company known for products including Barbie and Hot Wheels in El Segundo, California on June 8, 2023.
Patrick T. Fallon | AFP | Getty Images

Barbie-maker Mattel posted third-quarter results after the market close on Tuesday that missed analysts’ expectations as ongoing global tariffs continue to hamper the toy manufacturer’s sales in North America.
Shares of the company fell 4% in after hours trading.

Here’s what Mattel reported for its third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Earnings per share: 89 cents adjusted vs. $1.07 expected
Revenue: $1.74 billion vs. $1.83 billion expected

For the quarter ended September 30, the company reported net income of $278 million, or 88 cents per share, down from $372 million, or $1.09 per share, a year earlier. Adjusting for one-time items, including costs associated with restructuring and certain product recalls, per-share profit was 89 cents.
Net sales fell 6% to $1.74 billion, coming in short of Wall Street’s expectations.
This is the first time in three quarters that the toy giant has missed on both earnings and revenue expectations.
In May, Mattel pulled its annual financial targets and said it would increase prices for some products in the U.S. to counter higher input costs due to the Trump administration’s tariffs on key trading partners. 

On Tuesday the company issued full-year guidance that calls for net sales to increase between 1% and 3% and for earnings per share to come in between $1.54 and $1.66.
“While our U.S. business was challenged in the third quarter by industry-wide shifts in retailer ordering patterns, the fundamentals of our business are strong,” Mattel CEO Ynon Kreiz said in a release. “Since the beginning of the fourth quarter, orders from retailers in the US have accelerated significantly.”
Tariffs have put pressure on toy manufacturers industry-wide. Approximately half of Mattel’s global toy sales come from the U.S., and by the end of the year, less than 40% of Mattel’s product will be sourced from China, Kreiz noted on CNBC in May.
During the third quarter, sales in North America fell 12%, with the largest year over year declines in the company’s infant, toddler and preschool category. International sales meanwhile climbed 3%.
Overall, sales for two of Mattel’s largest toy brands saw declining sales: Global Barbie sales fell 17% from the same quarter a year earlier, and Fisher-Price sales dropped 19%. The company’s global Hot Wheels sales ticked up 8%.
Moving forward, Mattel has focused on expanding its entertainment offerings and employing new technology. On Tuesday, Mattel and Hasbro partnered with Netflix to capitalize on the success of the movie “KPop Demon Hunters” to offer dolls and other consumer products tied to the film.
Mattel is producing dolls, action figures, accessories and playsets and currently is taking pre-orders for a three-pack of dolls featuring Rumi, Mira and Zoey, the members of the fictional KPop trio HUNTR/X. Merchandise and toys from both companies will be available at retail in spring 2026.
Correction: Mattel reported net income of $278 million. A previous version of this article misstated the figure. More