OpenAI’s big day, Nike’s turnaround story, the shutdown continues and more in Morning Squawk

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Here are five key things investors need to know to start the trading day:

OpenAI hosted its first developer event in nearly two years yesterday. The artificial intelligence startup announced releases such as App SDK, AgentKit, ChatKit and Codex during the keynote address. CEO Sam Altman closed the event with ex-Apple design chief Jony Ive, who said the rate of change in the AI industry is “extraordinary.” Here’s a full recap of OpenAI’s DevDay.

Figma shares jumped more than 7% after Altman highlighted the company’s technology on stage. Shares of Advanced Micro Devices also closed the day up more than 23% after OpenAI announced a deal with the chipmaker earlier in the day.

Altimeter Capital founder Brad Gerstner pointed out that OpenAI’s deals are just announcements, not deployments. “Now we will see what gets delivered,” he told CNBC. Meanwhile, hedge fund manager Paul Tudor Jones said the market is set up for a rally before a “blow off” top. “If anything, now is so much more potentially explosive than 1999,” Jones said.

The Senate failed to pass a government funding bill for a fifth time yesterday, sending the shutdown into its seventh day. The 52-42 vote was mainly along party lines, as was the four previous votes.

Keep Oct. 15 on your calendar if the shutdown continues. As CNBC’s Jeff Cox reports, that’s when 1.3 million active-duty members of the armed services are scheduled to receive their next paycheck — a date both President Donald Trump and lawmakers wouldn’t want to miss.

Nike’s turnaround story is starting to take shape, but CEO Elliott Hill acknowledged that it will “take a while” for the company to return to profitable growth.

In an interview from Nike’s Oregon headquarters, Hill told CNBC that this path is “not linear.” The company’s quarterly sales and profits have largely declined since Hill took the helm of the athletic apparel brand nearly one year ago.

Click here to watch the full interview.

Americans have been seeing that viral Nicole Kidman AMC ad a lot this year.

2025 could be the best year for the U.S. box office in the post-pandemic era, estimates show. Upcoming releases such as “Wicked: For Good,” “Zootopia 2″ and “Avatar: Fire and Ash” should help theaters finish the year strong after losing some momentum in the fall.

In the first three quarters of this year, the domestic box office has seen $6.5 billion in ticket sales, per Comscore. That’s up from $6.3 billion seen in the same period a year ago.

Disclosure: Comcast is the parent company of Fandango and NBCUniversal, which owns CNBC. Versant would become the new parent company of Fandango and CNBC upon Comcast’s planned spinoff of Versant.

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