Latest news with #ScaleAI
Yahoo
5 hours ago
- Business
- Yahoo
Why Reddit Stock Was Moving Higher This Week
Reddit shares gained as it launched new AI tools. The stock also got a positive note from a Wall Street analyst. Reddit has soared since its IPO last year. 10 stocks we like better than Reddit › Shares of Reddit (NYSE: RDDT) were moving higher this week after the company launched two new AI-powered advertising tools and benefited from some positive analyst commentary on the stock. According to data from S&P Global Market Intelligence, the stock was up 19.4% for the week as of Wednesday's close. At the Cannes Lions festival, Reddit announced Reddit Community Intelligence, a new tool that can power insights for advertisers from more than 22 million posts on Reddit. As part of the launch, it introduced two new "early stage products," Reddit Insights and Conversation Summary Add-ons. Reddit Insights is a "scalable, AI-powered social listening tool" that gives marketers proprietary data to help guide ad campaigns. The Conversation Summary add-on integrates positive user content directly below an ad, helping to get ads better placement and views. Advertising is Reddit's primary source of revenue, but the company has historically struggled to monetize its platform the way some larger social media platforms have. On Wednesday, Reddit jumped 5.5% as B. Riley said that Meta's deal with Scale AI, in which it's spending $14.3 billion on a 49% stake in the data labeling company, was a positive sign for Reddit as point to the value of the content on its platform, which Reddit refers to as its "corpus." Reddit has been a big winner since its IPO last month, but the stock has also pulled back sharply from its peak as investors seem to be doubting whether the company can maintain its strong growth rate. The launch of the AI advertising tools is a step in the right direction, as anything it can do to maintain its momentum in both usage and advertising growth should help drive the social media stock higher. Before you buy stock in Reddit, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Reddit wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor's total average return is 995% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Jeremy Bowman has positions in Meta Platforms. The Motley Fool has positions in and recommends Meta Platforms. The Motley Fool has a disclosure policy. Why Reddit Stock Was Moving Higher This Week was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
8 hours ago
- Business
- Mint
Mark Zuckerberg is spending megabucks on an AI hiring spree
When Mark Zuckerberg decided to launch his quest for the metaverse in 2021, he threw fistfuls of cash at the effort. Meta's boss is now repeating the act, this time with generative artificial intelligence (AI). Hot on the heels of what may be the world's most expensive acquihire—a $14.3bn deal to buy 49% of Scale AI, a data-labelling firm whose main asset is Alexandr Wang, its 28-year-old founder—people close to the matter say Mr Zuckerberg is planning to offer more than $1bn combined for two of Silicon Valley's hottest AI brain boxes, who would work under Mr Wang. It marks the start of a reset of Meta's generative-AI ambitions. Meta has made no comment, but if the deal goes through Nat Friedman and Daniel Gross, entrepreneurs and partners in a venture-capital (VC) firm called NFDG, will work in Meta's 'superintelligence" unit under Mr Wang, one of America's youngest self-made billionaires. The word 'superintelligence" is somewhat misleading. Rather than ground-breaking AI research, the team is expected to focus on developing new AI products for Meta, some of whose recent efforts, including its latest Llama model and the Meta AI chatbot, have disappointed. Someone who knows all three men calls the trio 'the avengers". He reckons they will have huge additional sums at their disposal to hire top AI researchers in order to unseat OpenAI, maker of ChatGPT, as the dominant generative-AI firm. 'They're going to go big," he says. Indeed, there appear to be few limits on what Meta is prepared to spend. On June 17th Sam Altman, the boss of OpenAI, said on a podcast that Meta was offering signing bonuses of $100m to poach his staff. Another person close to the situation says Mr Zuckerberg sought to hire Ilya Sutskever, the brains behind ChatGPT and co-founder of Safe Superintelligence (SSI), another hot AI startup, to work at Meta, though he was unsuccessful. 'He is throwing insane amounts of money at people," the person said. The gambit shows Mr Zuckerberg's continued willingness to make mighty, long-term bets to reinvent his firm, even if his foray into the metaverse has been a costly flop. 'This is very Zuckerbergian to do these big, loud stunts just to prove how committed he is," says Eric Seufert, an independent tech analyst. And while the sums are big, they may not be as reckless as some pundits argued when reports surfaced that Meta was buying its stake in Scale AI, considering how much of Meta's $1.7trn market value is riding on its success in AI. The acquisitions also involve people with close personal ties and shared ideals. Mr Friedman, former boss of GitHub, a software-development platform owned by Microsoft, is friends with Mr Zuckerberg. He is part of Meta's Advisory Group, which provides guidance to the company. And, like Mr Zuckerberg, he is a lover of ancient Rome. He and Mr Gross helped launch a contest called the Vesuvius Challenge to decode scrolls buried in Herculaneum after Mount Vesuvius erupted in 79AD. Mr Friedman and Mr Gross are savvy AI investors. Some call their VC firm the AI equivalent of Andreessen Horowitz, a Silicon Valley juggernaut born out of the dotcom boom. Mr Friedman invested in Scale AI and is close to Mr Wang. Mr Gross is a co-founder of Mr Sutskever's SSI, which was recently valued at $32bn less than a year after its birth. It is not clear what will happen to NFDG. People who know the two say that joining Meta appeals not only for the generous terms, but also the excitement of working for an AI heavyweight and the money and computing power it will put at their disposal. 'This is the tech battle of our time," says one person close to the pair. Mr Zuckerberg intends to win.
Globe and Mail
8 hours ago
- Business
- Globe and Mail
Why Reddit Stock Was Moving Higher This Week
Shares of Reddit (NYSE: RDDT) were moving higher this week after the company launched two new AI-powered advertising tools and benefited from some positive analyst commentary on the stock. According to data from S&P Global Market Intelligence, the stock was up 19.4% for the week as of Wednesday's close. Reddit gets a tailwind At the Cannes Lions festival, Reddit announced Reddit Community Intelligence, a new tool that can power insights for advertisers from more than 22 million posts on Reddit. As part of the launch, it introduced two new "early stage products," Reddit Insights and Conversation Summary Add-ons. Reddit Insights is a "scalable, AI-powered social listening tool" that gives marketers proprietary data to help guide ad campaigns. The Conversation Summary add-on integrates positive user content directly below an ad, helping to get ads better placement and views. Advertising is Reddit's primary source of revenue, but the company has historically struggled to monetize its platform the way some larger social media platforms have. On Wednesday, Reddit jumped 5.5% as B. Riley said that Meta's deal with Scale AI, in which it's spending $14.3 billion on a 49% stake in the data labeling company, was a positive sign for Reddit as point to the value of the content on its platform, which Reddit refers to as its "corpus." What's next for Reddit Reddit has been a big winner since its IPO last month, but the stock has also pulled back sharply from its peak as investors seem to be doubting whether the company can maintain its strong growth rate. The launch of the AI advertising tools is a step in the right direction, as anything it can do to maintain its momentum in both usage and advertising growth should help drive the social media stock higher. Should you invest $1,000 in Reddit right now? Before you buy stock in Reddit, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Reddit wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor 's total average return is995% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
West Australian
8 hours ago
- Business
- West Australian
THE ECONOMIST: Mark Zuckerberg is spending megabucks on an AI hiring spree for Meta to unseat ChatGPT
When Mark Zuckerberg decided to launch his quest for the metaverse in 2021, he threw fistfuls of cash at the effort. Meta's boss is now repeating the act, this time with generative artificial intelligence. Hot on the heels of what may be the world's most expensive acquihire — a $US14.3 billion ($22b) deal to buy 49 per cent of Scale AI, a data-labelling firm whose main asset is Alexandr Wang, its 28-year-old founder — people close to the matter say Mr Zuckerberg is planning to offer more than $US1b combined for two of Silicon Valley's hottest AI brain boxes, who would work under Mr Wang. It marks the start of a reset of Meta's generative-AI ambitions. Meta has made no comment, but if the deal goes through Nat Friedman and Daniel Gross, entrepreneurs and partners in a venture-capital (VC) firm called NFDG, will work in Meta's 'superintelligence' unit under Mr Wang, one of America's youngest self-made billionaires. The word 'superintelligence' is somewhat misleading. Rather than ground-breaking AI research, the team is expected to focus on developing new AI products for Meta, some of whose recent efforts, including its latest Llama model and the Meta AI chatbot, have disappointed. Someone who knows all three men calls the trio 'the avengers'. He reckons they will have huge additional sums at their disposal to hire top AI researchers in order to unseat OpenAI, maker of ChatGPT, as the dominant generative-AI firm. 'They're going to go big,' he says. Indeed, there appear to be few limits on what Meta is prepared to spend. On June 17 Sam Altman, the boss of OpenAI, said on a podcast that Meta was offering signing bonuses of $US100m to poach his staff. Another person close to the situation says Mr Zuckerberg sought to hire Ilya Sutskever, the brains behind ChatGPT and co-founder of Safe Superintelligence (SSI), another hot AI startup, to work at Meta, though he was unsuccessful. 'He is throwing insane amounts of money at people,' the person said. The gambit shows Mr Zuckerberg's continued willingness to make mighty, long-term bets to reinvent his firm, even if his foray into the metaverse has been a costly flop. 'This is very Zuckerbergian to do these big, loud stunts just to prove how committed he is,' says Eric Seufert, an independent tech analyst. And while the sums are big, they may not be as reckless as some pundits argued when reports surfaced that Meta was buying its stake in Scale AI, considering how much of Meta's $US1.7t market value is riding on its success in AI. The acquisitions also involve people with close personal ties and shared ideals. Mr Friedman, former boss of GitHub, a software-development platform owned by Microsoft, is friends with Mr Zuckerberg. He is part of Meta's Advisory Group, which provides guidance to the company. And, like Mr Zuckerberg, he is a lover of ancient Rome. He and Mr Gross helped launch a contest called the Vesuvius Challenge to decode scrolls buried in Herculaneum after Mount Vesuvius erupted in 79AD. Mr Friedman and Mr Gross are savvy AI investors. Some call their VC firm the AI equivalent of Andreessen Horowitz, a Silicon Valley juggernaut born out of the dotcom boom. Mr Friedman invested in Scale AI and is close to Mr Wang. Mr Gross is a co-founder of Mr Sutskever's SSI, which was recently valued at $US32b less than a year after its birth. It is not clear what will happen to NFDG. People who know the two say that joining Meta appeals not only for the generous terms, but also the excitement of working for an AI heavyweight and the money and computing power it will put at their disposal. 'This is the tech battle of our time,' says one person close to the pair. Mr Zuckerberg intends to win .
Yahoo
13 hours ago
- Business
- Yahoo
As the Fed waits on the impact of tariffs, some are already feeling it
This post originally appeared in the Business Insider Today newsletter. You can sign up for Business Insider's daily newsletter here. Happy Juneteenth! Since the BI Today team is off for the holiday, we're running an abbreviated version of the newsletter. But we've still got time for a scoop! Meta's deal with Scale AI has left its Big Tech clients eager to distance themselves from the company. In today's big story, the Fed is holding firm on interest rates as Fed Chair Jerome Powell waits to see the impact of Trump's tariffs. However, some people are already feeling me if you've heard this before: The Fed didn't cut interest rates as it waits to see the impact of tariffs. For the fourth-straight time this year, the central bank chose not to adjust interest rates. And as was the case before, the impact of President Donald Trump's trade war was a key part of the decision, writes BI's Allie Kelly. It's tricky to navigate for multiple reasons. First, the ultimate severity of the tariffs is unclear as negotiations are ongoing. Second, the financial data hasn't yet indicated notable price changes due to the trade war. Still, Powell said he ultimately expects the cost of tariffs will fall to the consumer. "We expect a meaningful amount of inflation to arrive in the coming months," Powell said Wednesday, adding, "Someone has to pay for the tariffs." In some cases, it's already happening. (Much to the surprise of the customer.) BI's Emily Stewart has a story on the sticker shock customers are getting when steep import bills arrive on their doorsteps. Some people even questioned the legitimacy of the bills. A customer who purchased an $850 bag from Spain thought the text she got from UPS billing her $250 for the delivery was a scam, she told Emily. It's led to a lot of finger-pointing about who is to blame. Retailers often say their websites explain — albeit oftentimes in the fine print — that import duties are the customers' responsibility. Carriers like UPS and FedEx say they are just passing the bill they had to pay to the US government on to the buyers. Meanwhile, buyers are left frustrated with additional fees they often weren't aware of ahead of time. What's worse: Even if they return the item, they're still on the hook for the tariff bill. AI runs on dirty power — and the public pays the price. CEOs are trying to warn you: Use AI or else Apple, Siri, and the booted blogger: A Conversation with John Gruber. F1's CEO says the job comes with 'no holiday.' He explains how he stays calm under pressure. Sneaker loafers, a hot new shoe trend, toe the line between fashionable and geriatric. Looking for a sign to put off buying an engagement ring? This just might be it. A Chinese herbal-medicine stock with no revenue has surged 60,000% this year. 5 things to know about the company's mysterious spike. Microsoft turned me down twice. Here's what I did differently the third time to get the job. CEOs haven't felt this gloomy about the economy since the pandemic. The Silicon Valley leaders who have experimented with psychedelics. The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York City. Hallam Bullock, editor, in London. Akin Oyedele, deputy editor, in New York. Ella Hopkins, associate editor, in London. Grace Lett, editor, in Chicago. Amanda Yen, associate editor, in New York. Read the original article on Business Insider
