Zoom earnings top estimates, outlook gets lift from AI

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 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.

Salesforce reported better-than-expected second quarter earnings, with beats on revenue, margins, and earnings per share, as the company's investments in artificial intelligence paid off.

Lululemon reported Q2 earnings that beat expectations, with a 14-cent increase in GAAP EPS and a revenue increase of 18.2% year over year, while also providing positive growth outlooks for Q3 and 2023.

Zoom Video Communications is expected to outperform in the stock market, with one analyst predicting it could soar by 1,991% by 2026, as the company continues to grow and attract customers despite competition from tech giants like Microsoft and Salesforce.

Cloudflare's Q2 2023 earnings showcased strong performance, with revenue exceeding expectations and a positive outlook for future growth, particularly in the AI sector.