Pinterest Stock Plunges 21% Despite AI Advances as CEO Warns Trump Tariffs Will Hit Q4 Revenue
Summary
Pinterest stock crashes 21% as CEO warns Trump tariffs will damage Q4 revenue despite launching AI-powered shopping assistant and achieving major cost savings through open source AI models.
Key Points
- Pinterest CEO Bill Ready reports that open source AI models deliver 'tremendous performance' with orders of magnitude cost reductions compared to proprietary models for visual AI applications
- Pinterest stock tumbles over 21% after the company predicts weaker fourth-quarter revenue of $1.31-1.34 billion, citing Trump tariffs' negative impact on home furnishings shopping
- The company launches Pinterest Assistant, an AI-powered shopping companion that provides personalized recommendations based on users' boards and preferences while exploring agentic commerce opportunities