This episode is sponsored by Morgan Stanley's Thoughts on the Market. Today's financial markets move fast. Morgan Stanley moves faster with their daily podcast, Thoughts on the Market. Thoughts on the Market covers daily trends across the global investment landscape with actionable insights from Morgan Stanley's leading economists and strategists. And with most episodes under five minutes long, staying informed has never been easier. Listen and subscribe to Thoughts on the Market wherever you get your podcasts.
Here's your TMB Tech Minute for Tuesday, July 1st. I'm Katie Dayton for The Wall Street Journal.
The U.S. Senate passed President Trump's tax and spending mega-bill this afternoon following a vote to remove a provision that would ban state laws that regulate artificial intelligence. House Republicans had proposed a 10-year moratorium on state AI regulations, hoping to prevent a patchwork of rules across the country. But some lawmakers said the initial language was too broad and would prevent states from legislating in other areas, like child online safety.
Trump's, quote, big beautiful bill, meanwhile, appeared to reignite his feud with Elon Musk. The two sparred on their respective social media platforms, X and Truth Social, with Musk accusing Congress of voting for the, quote, biggest debt increase in history. Trump, meanwhile, told reporters that Musk was upset the legislation ends federal subsidies for electric vehicles, such as those made by Tesla. And he said he might look at deporting Musk, who was born in South Africa.
Elsewhere, Amazon has hit a new operational milestone, deploying more than one million robots in its warehouses. That means the company is now on the cusp of using more robots in its facilities than humans. It comes after Amazon spent years automating tasks like picking items off shelves and ferrying them for packaging. The growing automation has helped Amazon improve productivity while easing pressure on the company to solve problems such as heavy staff turnover at its fulfillment centers.
For a deeper dive into what's happening in tech, check out Wednesday's Tech News Briefing podcast.