Tencent Shareholder Prosus Expects Profitability to Be Boosted by AI
Prosus, Tencent Holdings' 700 0.59%increase; green up pointing triangle largest shareholder, expects to keep growing substantially in the coming years, supported by increased investments in artificial intelligence.
The technology investor anticipates a $1.3 billion improvement in consolidated e-commerce adjusted earnings before interest, taxes, depreciation, and amortization over three years. The company also expects to double its consolidated e-commerce revenue over the same period, Chief Executive Fabricio Bloisi said Wednesday at the company's capital markets day.
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Forbes
37 minutes ago
- Forbes
Julie Bornstein's Daydream Is Redefining AI Fashion Shopping
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Julie Bornstein has spent decades at the intersection of retail and technology: launching scaling Sephora's digital business, serving as COO at Stitch Fix, and founding AI-native shopping app THE YES (which sold to Pinterest). She co-founded Daydream alongside Lisa Yamner Green (Chief Brands Officer), Dan Cary (Chief Product Officer), Richard Kim (Chief Strategy Officer), and Maria Belousova (Chief Technology Officer), all of whom bring deep experience from companies like Amazon, Google, Pinterest, Farfetch, and ClassPass. The Daydream Team Now, backed by a $50 million mega seed round and a seasoned founding team, Bornstein is pursuing her most ambitious vision yet: rebuilding the way fashion is discovered online. Daydream is not a retailer. It doesn't hold inventory or process transactions. Instead, it uses an affiliate model: redirecting users to brand or retailer websites to complete purchases and earning a commission on each sale. With more than 200 retail partners and 8,000 brands already integrated—and merchant onboarding currently free—Daydream has scale from day one. But the big question remains: can an affiliate model sustain a platform of this depth? Will brands eventually need to pay for enhanced placement or data access? For now, Daydream is betting on relevance over rent. No ads. No pay-to-play. Just personalized results designed to convert based on actual user intent. Daydream's conversational shopping engine is powered by an ensemble of AI models—including OpenAI, Google Gemini, open-source tools, and proprietary components. Each one specializes in fashion-specific domains: silhouette, fit, fabric, occasion, shopper behavior. Daydream CX page It's also an example of agentic AI: systems that don't just generate outputs, but interpret intent, take action, and guide users through decisions. Unlike most AI bots retrofitted onto retail sites, Daydream was built chat-first and vertically tuned from day one. CTO Maria Belousova says the team is already working on a new architecture that will orchestrate multiple models in real time, improving speed and specificity. First-time users create a Style Passport by entering key details: name, sizing, price range, and brand preferences. From there, Daydream learns in real time based on searches, clicks, and saved items. Users can type prompts like 'I need a dress for a rooftop wedding in Paris,' upload reference images, or refine results using the 'Say More' button. Items can be saved into collections, which generate daily personalized edits. The chat interface isn't a side feature—it is the primary navigation. No dropdowns. No keyword guesswork. Just intent-driven discovery. E-commerce has long overpromised and underdelivered on personalization—from virtual try-ons to product page videos. Daydream is different. 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In the same way search engines transformed how we navigate information and apps transformed how we manage life, Daydream is betting that chat-based, personalized, and agentic discovery will become the new standard for how we shop—and AI fashion shopping will become the default expectation. If successful, it could spark a broader shift in retail—from transaction-driven platforms to intent-driven experiences, from passive scrolling to intelligent assistance—and solidify AI fashion shopping as the next great leap in e-commerce. If other industries follow fashion's lead, Daydream may be remembered not just as a shopping tool but as the start of a new era of AI-native consumer interfaces. [Read more on how AI is transforming retail at Forbes and how fashion startups are embracing new shopping interfaces.)
New York Post
40 minutes ago
- New York Post
FedEx shares fall as dismal forecast fans concerns over Trump tariffs
FedEx shares plunged as much as 5% Wednesday after the company revealed a disappointing profit forecast as President Trump's tariffs weigh on global transit. The package delivery giant said it expects earnings per share of $3.40 to $4 in the current quarter, just slightly lower than forecast expectations of $4.05. But the underwhelming forecast sent investors fleeing, since the company often acts as a bellwether for several other industries. Advertisement FedEx shares fell Wednesday after the company reported a lower-than-expected profit forecast for the current quarter. Christopher Sadowski 'FedEx is like the economy's Fitbit. Express shows business demand, Ground tracks e-commerce, and Freight reflects industrial strength,' said Michael Ashley Schulman, partner at Running Point Capital Advisors. 'Right now, all three are looking sluggish.' The stock pared back gains from earlier losses, when it plunged about 6% Wednesday morning. Advertisement FedEx executives said they expect tariff policies to continue weighing on US-China air trade. That's a big deal for the company, which is more exposed to China than rival UPS. Trump initially levied a massive 145% rate on China. In a deal with the nation, he has since lowered it to 30% – but that's still far higher than previous rates. FedEx is also suffering from Trump's end to the 'de minimis' exemption, which previously allowed shipments worth less than $800 to enter the country duty-free, FedEx Chief Customer Officer Brie Carere said during a post-earnings call. Advertisement The shipping carrier often acts as a bellwether for several other industries. Christopher Sadowski Trump argued that Chinese fast-fashion sites like Temu and Shein abused the tax loophole, and that others might have used it to sneak in fentanyl and illicit materials, since 'de minimis' goods were able to skirt around customs checks. FedEx did not provide a full-year earnings or profit forecast on Wednesday, which is 'quite telling,' according to Russ Mould, investment director at AJ Bell. 'This may result in some consternation in the markets beyond just the fortunes of FedEx itself,' Mould said. Advertisement The company did, however, announce that it plans to carry out $1 billion in cost-cutting reductions in fiscal year 2026. FedEx's 'cost cutting drive is continuing, but it's clear that it'll face more challenges ahead amid ongoing trade unpredictably,' said Susannah Streeter, head of money and markets at Hargreaves Lansdown. Fear over the impact from Trump's tariffs – as CEO Raj Subramaniam warned that global demand 'remains volatile' – overshadowed FedEx's better-than-expected quarterly earnings. In the quarter ended May 31, the company reported adjusted earnings per share of $6.07, far above expectations of $5.84. FedEx posted revenue of $22.22 billion, above projections of $21.79 billion. Its US daily package volume was up 6% from the year before, and its US ground home delivery volume was up 10%.
Forbes
40 minutes ago
- Forbes
China Market Update: Six Agencies Announce 'Financial Support To Boost & Expand Consumption'
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