The Latest: Trump will reveal ‘AI Action Plan' shaped by his Silicon Valley supporters
The plan and related executive orders are expected to include some familiar tech lobby pitches: accelerating the sale of AI technology abroad and making it easier to construct the energy-hungry data center buildings that are needed to form and run AI products, according to a person briefed on Wednesday's event who was not authorized to speak publicly and spoke on condition of anonymity. It might also include some of the AI culture war preoccupations of the circle of venture capitalists who endorsed Trump last year.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Winnipeg Free Press
21 minutes ago
- Winnipeg Free Press
Marjorie Taylor Greene calls for George Santos' 7-year sentence to be commuted
It might be hard to find someone to have your back in politics if you get caught lying about your life story, become one of a handful of people ever expelled from Congress and then are thrown into federal prison. But George Santos is no ordinary former politician. In a letter Monday, U.S. Rep. Marjorie Taylor Greene formally came to the aid of the disgraced ex-congressman with a request that his seven-year prison sentence be commuted, arguing that the length of the term represented 'a grave injustice.' The plea, which was sent to a Justice Department pardon attorney, came less than two weeks after Santos began his sentence. 'While his crimes warrant punishment, many of my colleagues who I serve with have committed far worse offenses than Mr. Santos yet have faced zero criminal charges,' Greene, a Georgia Republican, wrote without elaborating. 'I strongly believe in accountability for one's actions, but I believe the sentencing of Mr. Santos is an abusive overreach by the judicial system.' Republican President Donald Trump, in an interview with the conservative news outlet Newsmax last week, said no one has talked to him about taking action in Santos' case, but added 'that's a long time' when told of the ex-congressman's seven-year sentence. 'He lied like hell,' Trump said. 'And I didn't know him but he was 100% for Trump.' Santos pleaded guilty last year to charges of wire fraud and aggravated identity theft following a damaging indictment that alleged he stole from political donors, paid for personal expenses with campaign contributions, lied to Congress and collected unemployment benefits while working. Santos was once heralded in the Republican Party for winning a perennially contested New York congressional seat covering parts of Queens and Long Island. However, it all began to unravel when it became clear that he fabricated much of his life story. At one point, he falsely claimed that his mother died in the 9/11 attacks. At another, he had to clarify that he was 'Jew-ish,' not Jewish, when pressed about a claim that his grandparents had fled the Holocaust. The lies made him a political pariah before he even got to Washington. Once there, he survived two expulsion attempts before a scathing House ethics committee report in late 2023 sealed his fate. He was expelled from Congress after a vote later that same year, becoming the sixth member in the chamber's history to be removed by colleagues. Santos, long a Trump loyalist, has been holding out hope that his support of the Republican president could result in a reprieve from his criminal sentence. In a dispatch from prison published Monday in the The South Shore Press, a newspaper on Long Island, Santos wrote, 'It's been just over a week now, but I can tell you this much: when people say 'prison sucks,' they aren't just talking about the bars and the bunks.' 'It's not just the loss of freedom — it's the erosion of your dignity. It's realizing how many basic human rights we all take for granted on the outside.'
Globe and Mail
an hour ago
- Globe and Mail
Is Pinterest Stock a Smart Buy Before Q2 Earnings Release?
Pinterest, Inc. PINS is scheduled to report second-quarter 2025 earnings on Aug. 7, 2025. The Zacks Consensus Estimate for revenues and earnings is pegged at $974.61 million and 34 cents per share, respectively. Over the past 60 days, the earnings estimate for PINS for fiscal 2025 has increased 1.67% and for fiscal 2026, it has improved 1.41%. Earnings Surprise History The company delivered a four-quarter earnings surprise of 0.53%, on average. In the last reported quarter, the company pulled off a negative earnings surprise of 8.00%. Earnings Whispers Our proven model does not conclusively predict an earnings beat for Pinterest this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. This is not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter. Qualcomm currently has an ESP of -6.11% with a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here. Factors Shaping the Upcoming Results During the quarter, Pinterest introduced AI-powered auto collages, a cutting-edge tool that streamlines the creation process of engaging content. It provides stylish outfit ideas, identifies similar products and clusters them together, and creates collages by emulating content with strong user engagement. Collages are one of the most popular content types among Gen Zs. With the launch of this innovative AI-powered tool, the company is expanding its reach among Gen Z users. The company also bolstered the AI-powered trends tool to better support advertisers in reaching their target market. The Pinterest Trend Tools offer brands insights based on how people search, save and shop on the platform. This is expected to gain solid market traction among retailers and advertisers. In the quarter under review, Pinterest also introduced visual search features that enable users to discover the brands, styles and ideas that better match their unique preferences. Instead of finding the right keywords, the tool allows users to use images as their search starting point. Its Visual Language Models and industry-leading multimodal embedding models empower users to find exact content through a combination of text and image. Integration of such leading-edge generative AI tools will likely boost engagement on the platform. Pinterest also formed a collaboration with the championship-winning WNBA team, the New York Liberty. Through this partnership, Pinterest aims to bring exclusive content and in-game experiences to its platform, inspiring fans and expanding community outreach. Interest in women's basketball is increasing steadily, and this collaboration will allow PINS to tap into the growing audience base in the WNBA. Such initiatives are expected to have a positive impact on the upcoming results. Price Performance Over the past year, Pinterest has gained 34.6% compared to the industry 's growth of 58.3%. However, it has outperformed peers like Snap Inc. SNAP but lagged Meta Platforms, Inc. META over this period. Snap has increased 6.5%, while META has surged 61.7% during this period. Key Valuation Metric of PINS From a valuation standpoint, Pinterest is currently trading at a premium compared to the industry and above its mean. Going by the price/sales ratio, the company shares currently trade at 5.86 forward sales, higher than 5.79 for the industry and higher than the stock's mean of 5.2. Investment Considerations Pinterest's growth strategy is focused on bringing more actionable content on the platform from a wide range of sources such as users, creators, publishers and retailers. Its state-of-the-art AI recommendation model works as a core element of the platform's backend infrastructure. The company is doubling down on improving relevancy and actionability, leveraging AI, which is likely to drive user growth across all regions. Per our estimate, Pinterest's global monthly active users are projected to reach 608.6 million in 2025, indicating 10.1% year-over-year growth. In the third quarter, global MAUs are expected to reach 571.8 million, suggesting 9.5% year-over-year growth. Pinterest's AI-powered trend tools are gaining strong popularity among advertisers. It allows advertisers to create and execute campaigns that target intent-based shoppers with enhanced content personalization. Moreover, enhancements in lower funnel solutions like mobile deep linking, shopping ads and API for conversions are providing a sustained return on investment to advertisers. However, the company is facing intense competition from various media companies such as Meta (including Facebook and Instagram), Google (including YouTube), Snap, and X. META is ramping up investment in an AI-powered recommendation system to increase engagement across its platforms. Snap is also continuously adding interactive features to make the Snapchat platform more attractive to users and advertisers. These factors could pose a challenge to Pinterest's expansion initiatives. Moreover, PINS' heavy reliance on advertising as its major source of revenue is a concern. Any adverse changes in the advertising industry, shifts in advertiser preferences, or economic downturns can affect financial performance. End Note With a Zacks Rank #3, Pinterest appears to be treading in the middle of the road, and new investors could be better off if they trade with caution. Intensifying competition and growing operating expenses are putting pressure on profitability. Macroeconomic headwinds remain a concern. However, the results of a single quarter are not so vital for long-term stakeholders. Investors who already own the stock may consider holding on to it as Pinterest is set to benefit from healthy traction in multiple verticals such as retail, financial services, auto, health and travel. Rising engagement among Gen Z users is a positive factor. Upward estimate revision highlights growing investors' confidence. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Snap Inc. (SNAP): Free Stock Analysis Report Pinterest, Inc. (PINS): Free Stock Analysis Report Meta Platforms, Inc. (META): Free Stock Analysis Report
Winnipeg Free Press
an hour ago
- Winnipeg Free Press
3 African nations have agreed to take deportees from the US. What we know about the secretive deals
CAPE TOWN, South Africa (AP) — Rwanda has become the third African nation to enter into a deal with the Trump administration to accept migrants deported by the United States. The Rwandan government said Tuesday it has agreed to accept up to 250 deportees from the U.S. for resettlement but didn't immediately give any more details, including when they would arrive or what Rwanda got, if anything, out of the deal. The U.S. has already deported eight men it said were dangerous criminals who were in the U.S. illegally to South Sudan and another five to Eswatini. Here's what we know, and still don't know, about U.S. President Donald Trump's expanding third-country deportation program in Africa and the largely secretive deals the U.S. is striking. The U.S. State Department and the Department of Homeland Security haven't responded to requests seeking more details on the deals in Africa. South Sudan The U.S. sent eight men from South Sudan, Cuba, Laos, Mexico, Myanmar and Vietnam to South Sudan in East Africa in early July after their deportations were held up by a legal challenge. That led to them being kept for weeks in a converted shipping container at an American military base in nearby Djibouti. U.S. officials said the men had been convicted of violent crimes in the U.S. When it took custody of them a month ago, the South Sudan government said it would ensure their 'safety and wellbeing' but has declined to give other details, including where the men are being held and what their fate might be. South Sudan has been wracked by conflict since it gained independence from Sudan in 2011 and is teetering on the edge of civil war again. Eswatini Two weeks after the South Sudan deportations, the U.S. announced that it had sent another five men — citizens of Vietnam, Jamaica, Cuba, Yemen and Laos — to the small kingdom of Eswatini in southern Africa. The U.S. Department of Homeland Security said they were also violent criminals whose home countries had refused to take them back. Eswatini's government said the men would be held in solitary confinement until their repatriation, and later said that might take up to a year. A human rights lawyer in Eswatini has taken authorities to court alleging the men are being denied legal representation while being held in a maximum-security prison, and questioning the legality of detaining them indefinitely when they have served their criminal sentences in the U.S. U.S. authorities didn't name the men or say if they had been deported straight from prison or detained in another way. Eswatini, which borders South Africa, is one of the world's last absolute monarchies. King Mswati III has ruled since he turned 18 in 1986. Authorities under him are accused of violently subduing pro-democracy movements in a country where political parties are effectively banned. Rwanda Rwanda's deal with the U.S. comes after a contentious migrant agreement it reached with the U.K. in 2022 collapsed and was ruled unlawful by Britain's Supreme Court. That deal was meant to see people seeking asylum in the U.K. sent to Rwanda, where they would stay if their asylum applications were approved. The failed deal ultimately cost the U.K. nearly a billion dollars in public money, including around $300 million that it gave to Rwanda and didn't get back. Rwanda said that the deportees it will take from the U.S. will be resettled there and given work training, healthcare and help with accommodation. Analysts say that African nations might be seeking a range of benefits from the Trump administration in return for taking deportees, including more favorable tariff rates, aid and other financial assistance, and even the easing of sanctions against some of their officials. ___ AP news on the Trump administration:
