We recently published a list of 10 AI News Updates You Should Not Miss. In this article, we are going to take a look at where Pinterest, Inc. (NYSE:PINS) stands against other AI news updates you should not miss.

Europe is putting itself on the artificial map with France and the United Arab Emirates having agreed to a framework accord for a 1 gigawatt data center dedicated to artificial intelligence. The French presidency said in a statement that the center will be the core of a new AI “campus” and will have up to 1 gigawatt of capacity, “which represents investments of 30 to 50 billion euros”.

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The move is said to be a part of a larger AI agreement signed between French President Emmanuel Macron and his UAE counterpart Sheikh Mohamed bin Zayed Al Nahyan in Paris. President Emmanuel Macron hosted his Emirati counterpart on Thursday.

“The two leaders expressed their desire to create a strategic partnership in the field of AI and committed to exploring collaborations on projects and investments supporting the development of the AI ​​value chain”.

-A joint Franco-Emirati statement.

According to the leaders, the investments would go into both French and Emirati AI and would include buying advanced chips, building data centers, talent development, and establishing virtual data embassies to secure AI and cloud systems in both countries.

France is also going to be hosting the Artificial Intelligence (AI) Action Summit at the Grand Palais on February 10-11, 2025. The country has deemed the summit a “wake-up call” for Europe in the global race for AI.

“The summit comes at exactly the right time for this wake-up call for France and Europe, and to show we are in position” to take advantage of the technology, an official in Macron’s office told reporters.

Attendees at the summit will include Sam Altman, head of OpenAI, Google CEO Sundar Pichai, and Nobel Prize winner Demis Hassabis, who leads the company’s DeepMind AI research unit, amongst many other industry leaders, government officials, and similar figures from around the world.

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A young, stylish woman using her smartphone to find inspiration for her latest DIY project.

Pinterest, Inc. (NYSE:PINS)

Number of Hedge Fund Holders: 61

Pinterest, Inc. (NYSE:PINS) operates as a visual search and discovery platform in the United States and internationally. On February 7, Reuters reported that the company forecast first-quarter revenue above estimates. According to data compiled by LSEG, the first-quarter revenue forecast of $837 million to $852 million was above analysts’ average estimate of $832.8 million. This forecast, following better-than-expected record monthly active users and revenue during the fourth quarter owing to a robust holiday shopping season, implies that its AI-powered tools would help increase advertising spending on the platform. Pinterest (NYSE:PINS) is using direct response ads that encourage actions such as app downloads or website visits. The company is also investing in AI tools such as its Performance+ suite to improve the targeting of ads. According to CEO Bill Ready, advertisers that were using these tools required 50% fewer inputs to create a campaign.

“Our strategy is paying off. People are coming to Pinterest more often, the platform has never been more actionable”.

Overall, PINS ranks 5th on our list of AI news updates you should not miss. While we acknowledge the potential of PINS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PINS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.