Artificial Intelligence and the Future of the Mag 7

After over a decade of exceptional—and justified—returns, the future of these mega-cap tech companies feels uncertain amid the rise of AI. Thirty years ago, the internet reshaped the global economy, created new industries, disrupted legacy players, and altered our daily lives. AI may prove just as transformative—perhaps even more.

Pinterest beats revenue estimates as AI tools drive ad spend

Pinterest beat analysts’ estimates for second-quarter revenue on Thursday, as increased marketing spend on the platform was fueled by its artificial intelligence-powered advertising tools. However, shares of the company fell around 8.2% in extended trading. The stock has risen about 35% so far this year.