After a successful Reddit IPO, the company is now embarking upon AI and advertisement opportunities. According to Yahoo Finance, Reddit CEO Steve Huffman revealed that the company will now be focusing on AI projects and more for future growth plans.
Reddit to Keep AI Growth on Cards
Huffman claims that Reddit is actively seeking new partnerships that feed its data to large language models (LLMs), but the company’s primary goal is to increase its share of the advertising market. The claim comes at a time when other tech giants like Google and Microsoft are also trying to mint AI revenue in the future.
Reedit IPO Sees Good Success
Reddit’s stock began trading at $47 a share after it was listed on the New York Stock Exchange today. The company’s shares debuted in trading above and beyond its anticipations. Reddit’s trading adventure got off to a good start as the stock increased shortly after trading began. They surged past 30% just minutes after the trade began.
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