Reddit's stock surged 35% after IPO, amid growing potential in the $2.05tn AI market by 2030.
Reddit's stock has soared 35% since its IPO on March 21, closing at $50.44 on its first day of trading. The social media company has potential in the AI space, as it can license data generated on its platform for use in large language models (LLMs) like OpenAI's ChatGPT, Microsoft's Copilot, and Alphabet's Gemini. The AI market is projected to grow from $428bn in 2022 to $2.05tn by 2030, with an impressive CAGR of 21.6%.
March 29, 2024
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