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By Harish Sridharan
(Reuters) - Australia's Appen Ltd warned on Thursday of an up to 84% drop in annual earnings because of spending cuts by major customers, sending its shares tumbling to a near 5-1/2-year low.
The company, which runs artificial intelligence training for tech giants like Facebook, Google and Amazon.com, has seen a drop in digital advertising revenue, as its clients cut costs to manage soaring inflation and elevated borrowing costs.
Shares of the artificial intelligence firm ...
>>> Read more: AI firm Appen's shares tumble to 5-1/2-year low on bleak outlook
(Reuters) - Australia's Appen Ltd warned on Thursday of an up to 84% drop in annual earnings because of spending cuts by major customers, sending its shares tumbling to a near 5-1/2-year low.
The company, which runs artificial intelligence training for tech giants like Facebook, Google and Amazon.com, has seen a drop in digital advertising revenue, as its clients cut costs to manage soaring inflation and elevated borrowing costs.
Shares of the artificial intelligence firm ...
>>> Read more: AI firm Appen's shares tumble to 5-1/2-year low on bleak outlook
