Main topic: Zoom's changes to its terms of service regarding AI training on customer data.
Key points:
1. Zoom made changes to its terms of service that allowed AI training on customer data.
2. The changes sparked blowback and criticism from users.
3. In response, Zoom updated its terms to clarify that it will not train AI models on consumer video, audio, or chats without customer consent.
Zoom reported better-than-expected Q2 earnings, raised its revenue forecast, and expected artificial intelligence to boost its margins.
The article discusses the stocks that are experiencing the most significant movements, including Zoom Video, Tesla, Fabrinet, Lowe's, Baidu, and Macy's.
Zoom has announced the launch of new AI innovations, including Zoom Scheduler, Zoom Clips, and Zoom Team Chat, aimed at enhancing communication and collaboration in a hybrid work environment. The company also plans to invest in AI technology to support its customers' operations and prioritize privacy and data protection.
Microsoft has submitted a new proposal for its acquisition of Activision Blizzard, Zoom's shares rose after beating earnings projections, Kenvue will replace Advance Auto Parts on the S&P 500, Lowe's delivered an earnings beat fueled by strong spring sales, and existing home sales for July are expected to decline.
A survey reveals that 74% of respondents do not want Zoom using their data to train AI, and trust in Zoom dropped for 78.1% of respondents, leading many to consider switching to a competitor.
Nvidia stock has seen a significant increase in value this year, but Ark Invest has trimmed its position in the company and is now investing more in UiPath and Zoom Video Communications, two other AI stocks with growth potential. UiPath specializes in business automation software and has a long runway for growth, while Zoom is a leader in unified communications and is benefiting from the growing demand for AI software. Both stocks are trading at a discount and are considered good growth investments.
ZoomInfo, a commercial contacts database company with a focus on AI, has seen a decline in its stock price despite impressive growth and a strong customer base, making it an undervalued investment with long-term potential.
Zoom Video Communications saw its shares rise by nearly 2.2% after Microsoft announced it would unbundle its Teams app from the Office software suite, benefiting smaller tech companies like Zoom.
Shares of Zoom Video Communications Inc. fell 1.83% as the stock market experienced a grim trading session, marking the third consecutive day of losses for the company.
