Reported about 12 hours ago
Snap's shares surged 15% in Thursday trading following a $400 million partnership with Perplexity AI, boosting investor confidence that it can compete with larger rivals in the AI sector. This collaboration will integrate an AI-powered search engine into Snapchat, aiming to enhance its market position. Despite ongoing concerns about compute costs and advertising strategies, Snap's recent performance surpassed analyst expectations, with fourth-quarter revenue projected between $1.68 billion and $1.71 billion.
Source: YAHOO