tl;dr
Shares of Reddit (NYSE: RDDT) surged approximately 12% in after-hours trading following the announcement of a new partnership with Microsoft-backed (MSFT) OpenAI. The collaboration facilitates the integration of Reddit content into ChatGPT, enabling OpenAI to access Reddit's Data API and utilize its...
Shares of Reddit (NYSE: RDDT) surged approximately 12% in after-hours trading following the announcement of a new partnership with Microsoft-backed (MSFT) OpenAI. The collaboration facilitates the integration of Reddit content into ChatGPT, enabling OpenAI to access Reddit's Data API and utilize its artificial intelligence models to analyze real-time Reddit content. Reddit expressed its enthusiasm for leveraging OpenAI's AI models to enhance its platform, aiming to empower redditors and mods with new AI-powered features. Additionally, OpenAI will serve as a Reddit advertising partner as part of the agreement. According to Reddit CEO Steve Huffman, the integration underscores Reddit's commitment to fostering authentic and updated human conversations on a global scale, facilitating community discovery and enhancing user experiences.
More about Reddit, Inc.
Stock Market Analysis: Reddit, Inc. Stock Market Analysis: Reddit, Inc.
Reddit, Inc. operates a website that organizes digital communities. The company is headquartered in San Francisco, California.
Sector: Technology
Industry: Services-Computer Processing & Data Preparation
Market Cap: $7,569,363,000
Dividend Yield: 13.6
Price/Earnings Ratio: -0.113
Revenue: $8,040,290,000
Net Income: $49
Earnings Per Share: $0.246
More about Microsoft Corporation
Microsoft Corporation is an American multinational technology company which produces computer software, consumer electronics, personal computers, and related services. Its best known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. Its flagship hardware products are the Xbox video game consoles and the Microsoft Surface lineup of touchscreen personal computers. Microsoft ranked No. 21 in the 2020 Fortune 500 rankings of the largest United States corporations by total revenue; it was the world's largest software maker by revenue as of 2016. It is considered one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Amazon, and Facebook.
Industry: TECHNOLOGY
Sector: SERVICES-PREPACKAGED SOFTWARE
Market Cap: 314.45 billion
Current Price: 36.63
Change: 2.93 (11.55%)
52-Week Range: 31.83 - 0.364
Volume: 236,583,993
EPS: 472.39
P/E Ratio: 0.2
Dividend Yield: 0.17
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