Snap's $400M AI Partnership Boosts Shares
Update: 2025-11-06
Description
Snapchats parent company, Snap Incorporated, sees shares surge by 18% after announcing a $400 million partnership with AI startup Perplexity AI. This collaboration aims to enhance Snapchats competitive edge against rivals like TikTok and Meta, with Perplexitys AI-powered search engine integrated into the platform. The deal, set to begin reflecting in Snaps financials in 2026, is a significant investment in the collaboration, with Perplexity paying Snap over a one-year period. This positive news comes after Snaps successful third-quarter earnings report and strong fourth-quarter revenue forecast.
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