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Rivian’s gloomy demand outlook earns it a downgrade from Jefferies

Rivian shares fell more than 3% in Wednesday morning trading following a downgrade by Jefferies from “buy” to “hold.”

The EV maker issued a gloomy deliveries forecast when it reported earnings earlier this month, lowering its outlook to between 40,000 and 46,000 vehicles this year from an earlier range of 46,000 to 51,000 — a 12% drop in the midpoint. Rivian’s first-quarter delivery total marked a 36% plunge year over year.

Though Rivian’s production is entirely US-based and a majority of its parts comes from the US or USMCA-qualified locations, the automaker is anticipating an up to $1.9 billion hit from tariffs this year.

Jefferies assigned a $16 price target for Rivian shares, a level the stock hasn’t seen since early January.

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Amazon Web Services AWS advertisement ad sign closeup in underground transit platform in NYC Subway Station, wall tiled, arrow, side

Amazon Web Services outage takes down major websites including Reddit, Snapchat, and Venmo

It’s a good reminder of just how big AWS is — powering more than 76 million websites globally.

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Uber launches “digital tasks” in the US, paying some drivers to train AI

Beginning later this fall, US Uber drivers will be able to earn money by completing short “digital tasks” like uploading restaurant menus or recording audio samples.

CEO Dara Khosrowshahi teased the new gig income stream back in June at the Bloomberg Tech conference.

At that time, Khosrowshahi said drivers and couriers were “labeling maps, translating language, looking at AI answers, and grading AI answers.” According to Thursday’s announcement, the tasks won’t be so focused on Uber’s business, but instead on connecting workers with “companies that need real people to help improve their technology.”

Per Uber, digital tasks can be done when drivers aren’t on a trip, be it at home or when not driving, and will take only “a few minutes” each.

At that time, Khosrowshahi said drivers and couriers were “labeling maps, translating language, looking at AI answers, and grading AI answers.” According to Thursday’s announcement, the tasks won’t be so focused on Uber’s business, but instead on connecting workers with “companies that need real people to help improve their technology.”

Per Uber, digital tasks can be done when drivers aren’t on a trip, be it at home or when not driving, and will take only “a few minutes” each.

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