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Pinterest Shares Plunge 18% as Ad Competition and Tariff Pressures Hit Growth Outlook

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Pinterest shares tumbled 18% on Wednesday after the company issued a weaker-than-expected revenue forecast, raising concerns that the image-sharing platform is losing ground to larger digital advertising rivals amid growing tariff-related pressures. If losses hold, the drop would wipe about $4.36 billion off Pinterest’s market value.

The sharp decline contrasts with strong third-quarter results from advertising heavyweights Alphabet, Meta, and Reddit, all of which reported robust ad spending fueled by AI-powered targeting and larger global reach. Analysts said Pinterest’s smaller scale and slower innovation pace are limiting its ability to compete effectively.

Chief Financial Officer Julia Donnelly cited weaker ad spending in the United States and Canada — Pinterest’s biggest markets — as retailers face thinner margins due to new tariffs. “Larger U.S. retailers are navigating tariff-related margin pressure,” Donnelly said, adding that China-based e-commerce giants such as Temu and Shein have also reduced marketing budgets after the removal of the “de minimis” import exemption.

Pinterest now expects revenue between $1.31 billion and $1.34 billion for the current quarter, with the midpoint slightly below analyst expectations of $1.34 billion, according to LSEG data.

“Performance has been fine, but we struggle to see a catalyst for growth,” said analysts at Piper Sandler. Morgan Stanley added that Pinterest “failed to deliver” in a market increasingly rewarding innovation and upward earnings revisions.

Despite Wednesday’s steep loss, Pinterest shares remain up 13.6% for the year — outpacing Meta’s 7.2% gain over the same period.

Apple to Integrate Google’s Gemini AI Model to Power New Siri, Bloomberg Reports

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Apple plans to use Google’s massive 1.2 trillion-parameter Gemini AI model to power the next generation of its Siri voice assistant, according to a Bloomberg report published Wednesday. The deal, expected to be finalized soon, would see Apple pay roughly $1 billion annually for access to Google’s advanced AI technology.

The partnership marks a major step in Apple’s artificial intelligence ambitions, as it seeks to close the gap with rivals like Microsoft and OpenAI in generative AI. The Gemini model — one of the world’s most powerful — is set to serve as a temporary solution while Apple continues developing its own large-scale AI systems.

Bloomberg reported that the Gemini integration would enable Siri to handle more complex queries, offer improved conversational capabilities, and process natural language more fluidly than before. Apple’s current in-house models are far smaller in scale and capability compared with Google’s.

Neither Apple nor Alphabet has commented on the report. The collaboration underscores the growing trend among major tech firms to partner on AI development, even as they compete fiercely in the space.

Apple’s use of a Google-built AI model mirrors its long-standing partnership with the search giant, whose engine already powers Safari search functions on iPhones — another deal worth billions annually.

Waymo Begins Manual Autonomous Vehicle Tests at Newark Airport

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Alphabet’s self-driving technology unit, Waymo, has started manual testing of its autonomous vehicles at Newark Liberty International Airport. This initiative marks a significant step toward introducing its robotaxi services to one of the busiest airports in the New York metropolitan area.

The testing, conducted with human drivers, is part of a collaboration between Waymo and the Port Authority of New York and New Jersey. The company aims to carefully evaluate airport traffic patterns, ensuring safe and efficient integration of self-driving vehicles into real-world environments.

Although Waymo’s expansion has been gradual due to strict regulations and costly technology, it continues to advance through partnerships with ride-hailing platforms and fleet operators. The company’s move coincides with Tesla’s upcoming rollout of its long-awaited robotaxi network in the U.S. Meanwhile, Waymo plans to launch its fully driverless ride-hailing service in London by 2026, expanding its global footprint.