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-Kurt Wagner, Bloomberg Senior Reporter covering social media, discusses Meta Platforms unveiling a version of its AI model, Muse Spark 1.1, that includes a new paid tier for developers, marking the first time Meta has charged businesses for access to its models. The new model's standout improvement is in its agentic capabilities, with "state-of-the-art or very close to it" agentic reasoning and tool use, and is also greatly improved when it comes to coding.

-Ken Shea, Bloomberg Intelligence Senior Consumer Products Analyst, recaps PepsiCo earnings. PepsiCo Inc. said consumers pulled back in the second quarter as gas prices rose, slowing its efforts to revitalize its North American snack business. The company saw a decline in revenue in its North American food business and flat volume after cutting prices by as much as 15% in some brands.

-Mary Ross Gilbert, Bloomberg Intelligence, Senior Equity Analyst, Covering Retail, recaps earnings from Levis Strauss. Levi Strauss & Co. raised its full-year projections for a second straight quarter due to an expanded selection of apparel and a focus on its own stores and website. Net revenue is now projected to grow 7% to 7.5% for the full year, up from the previous range of 5.5% to 6.5%, according to a statement.

-Daniela Sirtori, Bloomberg Restaurants Reporter, discusses Starbucks developing in-house tools with the help of artificial intelligence that could replace some software applications it now buys from companies such as Microsoft Corp. and International Business Machines Corp. The coffee chain is building alternatives to a Microsoft system that tracks inventory and an IBM tool that manages maintenance, according to an internal presentation reviewed by Bloomberg News.

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Zuckerberg Pledges ‘Aggressive’ Pricing With Meta’s First Pay-to-Use AI

Bloomberg Intelligence

Zuckerberg Pledges ‘Aggressive’ Pricing With Meta’s First Pay-to-Use AI