Bill Ready, CEO of Pinterest, speaks at the 28th annual Milken Institute Global Conference (Patrick T. Fallon/Getty Images)

Pinterest drops after earnings miss

Ad-funded social media platform Pinterest reported earnings after the bell.

Rani Molla

8/7/25 3:35PM

Pinterest dropped after falling short of analysts’ expectations for adjusted earnings per share, reporting $0.33 versus the FactSet consensus estimate of $0.35.

The social media company beat on revenue, posting $998 million versus the expected $975 million, but it wasn’t enough to keep traders from bidding the stock down after-hours. Shares were recently down 7%.

Investors have been keen to learn just how much AI could boost sales at Pinterest, which relies on advertising for “substantially all” of its revenue.

Recently, Meta surged after reporting strong performance thanks to “AI unlocking greater efficiency and gains across our ad system.” Snap, on the other hand, plummeted earlier this week after it reported slightly worse-than-expected results, suggesting that its AI investments weren’t enough to keep up with its peers.

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Tesla is back in the negative this year

After falling more than 6% yesterday in its biggest drop since July, Tesla is once again in negative territory for the year. Elon Musk’s company posted record earnings last month, buoyed by pulled-forward demand tied to the final quarter of US federal EV tax credits, but its margins slipped as steep discounts were used to clear inventory.

Now the stock, which only turned positive for the year in September, is under renewed pressure amid a broader tech and AI sell-off, as investors grow concerned that the Federal Reserve may pause its rate-cutting cycle. Adding to the drag are soft sales in Tesla’s second-largest market, China, and news that longtime bull Cathie Wood’s Ark Invest unloaded roughly $30 million in shares this week.

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Meta overhauls Marketplace with AI insights and collaborative shopping

Meta announced Thursday that it’s giving its buy-and-sell platform, Marketplace — arguably the best part of Facebook and the most appealing to young people — a “glow up.” Each day in the US and Canada, one out of four Facebook daily active young adult users go to Marketplace, according to Meta. The overhaul includes the ability to create collections of listings you can share with friends or the public.

The site will also offer AI suggestions on what to ask sellers about your potential purchase. Unfortunately for all involved, the much-hated, easy-to-accidentally-press default message to sellers — “Hi, is this available” — remains unchanged.

Most promising, to us, for comedic purposes: “You can now react and comment directly on Marketplace listings, helping others learn about item quality and discover unique finds.”

Facebook Marketplace Gets a Glow Up

Most promising, to us, for comedic purposes: “You can now react and comment directly on Marketplace listings, helping others learn about item quality and discover unique finds.”

$15B

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Tesla CEO Elon Musk’s other company, xAI, has raised $15 billion in its latest funding round, CNBC reports. That’s $5 billion more than the company had raised in that same round in September. Its valuation remains at a sky-high $200 billion.

Tesla shareholders recently voted to invest in xAI but, due to a large number of abstentions, the board has yet to approve the proposal.

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Microsoft to use OpenAI’s chips to improve its own in-house chips

As part of Microsoft’s investment in OpenAI, the company is using OpenAI’s development of custom AI semiconductors to help improve its own in-house chips, which have lagged behind peers, according to an interview with CEO Satya Nadella by podcaster Dwarkesh Patel.

“As they innovate even at the system level, we get access to all of it,” Nadella said. “We first want to instantiate what they build for them, but then we’ll extend it.” Under their updated agreement, Microsoft has access to OpenAI’s models and products — excluding the Jony Ive-designed AI device — through 2032.

Rani Molla11/13/25

Apple to get 15% cut of purchases in Tencent’s WeChat mini games and apps

Apple has made a major inroad into China, the world’s largest smartphone market, by reaching a landmark agreement with Tencent to process payments within WeChat’s mini games and apps, Bloomberg reports.

Under the deal, Apple will take a 15% commission on digital purchases — half its usual 30% App Store cut. The arrangement ends a long-running dispute between the two over WeChat’s in-app payment system, which for years allowed users to bypass Apple’s infrastructure entirely, and gives the iPhone maker a lucrative new revenue stream inside the most dominant app ecosystem in China.

The agreement is expected to require developers to comply with Apple’s software policies and close payment loopholes that previously directed users to external systems.

Tencent posted earnings today that beat analysts revenue and earnings expectations.

Apple and Tencent Agree to 15% Fee on WeChat Mini Game Purchases