Lots has happened this past week in the tech world! With Google lifting the ban on AI use for weapon and surveillance use, Amazon preparing to release its fourth-quarter earnings report, and more, there’s much to catch up on. So, let’s get started!
Google Lifts Ban on AI Use for Weapons and Surveillance
Google announced on Tuesday that it is revising its principles for using artificial intelligence and other advanced technologies. The company has removed language from its guidelines that previously committed to avoiding technologies likely to cause harm, weapons designed to injure people, surveillance tech that violate international norms, and those that go against international law and human rights principles. These changes were shared in a note added to the top of a 2018 blog post outlining the original guidelines. The note reads, “We’ve made updates to our AI Principles. Visit AI.Google for the latest.”
Amazon Prepares to Release Fourth-Quarter Earnings Report
Amazon is set to report its fourth-quarter earnings today after the market closes, with analysts expecting earnings of $1.49 per share and revenue of $187.3 billion, according to LSEG. Key figures that Wall Street is watching include Amazon Web Services, expected to generate $28.8 billion, and advertising, projected at $17.4 billion, both according to StreetAccount. Analysts are forecasting around 10% revenue growth for the quarter, boosted by the holiday shopping season, during which online spending increased nearly 9% to $241.1 billion, slightly surpassing analysts’ expectations of $240.8 billion, based on data from Adobe Analytics.
Temu Shifts Focus to Local Products for Users
Chinese online retailer Temu has begun highlighting more products on its app that can be shipped from U.S.-based warehouses, following President Donald Trump’s move to revoke a widely-used tax loophole.
The de minimis exemption, which has been in place for nearly a century, allowed e-commerce companies to send goods valued under $800 into the U.S. without incurring duties. However, Trump suspended this exemption on Saturday as part of a new set of tariffs, which includes an additional 10% tax on Chinese goods.
Roblox Drops 12%
Roblox shares dropped over 12% after the gaming tech platform missed Wall Street’s expectations for bookings and daily active users.
The company reported fourth-quarter bookings of $1.36 billion, slightly below the $1.37 billion forecasted by analysts surveyed by LSEG. Daily active users reached 85.3 million, showing a 19% increase from the previous year, but falling short of the StreetAccount estimate of 88.2 million.
Teladoc Health to Purchase Catapult Health
Teladoc Health shares rose nearly 6% on Wednesday following the company’s announcement that it would acquire preventive care provider Catapult Health in a $65 million all-cash transaction.
Catapult provides at-home wellness exams that enable members to monitor their blood pressure, collect blood samples, record other health data, and have virtual consultations with nurse practitioners. Teladoc, a virtual healthcare tech platform, stated that the acquisition will enhance its ability to identify health conditions early.
