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Adobe is purchasing videos to develop its AI text-to-video generator, offering $120 to its network of photographers and artists for videos of people engaged in everyday actions to source assets for AI training, in an effort to catch up to competitors like OpenAI.
Shares of Adobe (ADBE) dropped 9.3% after the company reported weaker-than-expected full-year revenue guidance and provided a weaker outlook for digital media net new ARR and digital experience subscription revenue. The company also disclosed regulatory scrutiny over its subscription models, which could have a material impact on its financial results and operations. Despite beating analysts' revenue and earnings expectations, the weak guidance and regulatory issue introduced uncertainty, leading to the stock market's negative reaction.