Pinterest, the online bookmarking service, has created Pinterest Labs, a formal unit to house its technology research efforts, the company said on Tuesday.

Pinterest Labs will focus on artificial intelligence areas such as machine learning, image recognition, and data analytics. It will work with top researchers inside and outside the company, including through partnerships with UC Berkeley, Stanford, UC San Diego, and other universities. Pinterest chief scientist Jure Leskovec, whose startup Pinterest acquired in 2015 and a currently an associate professor at Stanford, will lead the new division.

Formalizing research: Despite making its name as an online service for collecting photos of home decor or recipes, Pinterest has been heavily investing in technologies such as machine learning, computer vision, and recommendation algorithms. These technologies are increasingly behind some of the company's new features such as "Lens," a new tool that recognizes the items in a image when the user points their phone's camera at something. In the last few years, the company has also acquired several startups developing such technologies, so a formal division should help it to better focus and coordinate its research.

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Trump administration cuts refugee cap to new record low

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The Trump administration plans to only admit a maximum of 15,000 refugees this fiscal year, the State Department said in a release late Wednesday evening.

Why it matters: This is yet another record low refugee cap. Before leaving office, President Obama set the refugee limit at 110,000 for fiscal year 2017 — a number Trump has continued to slash throughout his presidency.

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Illustration: Eniola Odetunde/Axios

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Barstool jumps into sports betting

Illustration: Eniola Odetunde/Axios

Barstool Sports was founded in 2003 as a free gambling newspaper. It later became a sports blog before growing into a media empire, and now things have come full circle with the recent launch of its own branded sportsbook.

Driving the news: The Barstool Sportsbook app saw a record 21,000 downloads per day during its first weekend (Sept. 18–20), breaking DraftKings' and Fanduel's daily records despite Pennsylvania being the only state where it was operational.