on reddit somewhere. we build really deep relationships with our users. we spend more and more time on reddit over these years, with his how long we measure account age. >> where are they mostly? where do you find that the celebrated -- sub reddit pages are here. maybe they are only reaching a 10th of the people that you want to. here, you might be reaching 100% of the people that you want to. >> sure. reddit, has big categories that you would expect to see technology , sports, entertainment. what should i watch, what should i wear, what should i do? every interesting passion and hobby is on reddit as well. one of the most fun things about picking up a new hobby, talking about what gear you are going to buy. reddit, is inherently commercial. maybe not in an obvious way. people are on reddit, talking about what they love to do, or what they are going to do. it makes it a fun experience around communities. really a natural connection with the company's customers. >> these numbers show me that there are perh

and that's what reddit provides. so so far, we've done one major content licensing deal with google. but we're talking to others as well. but your question is is it a one-time thing or ongoing? i think what's really important here is folks want real-time access to up to date information, conversation perspectives. imagine a search engine that stopped indexing in 2021. it wouldn't be very helpful. so i think that real time feed is really important. ed: steve, you took the interesting step to ask redditters to submit questions. and some of which you answered on the call. what is tell justification in working capital? i want to take that question and apply it to a.i. but also, it helps us more about ma what are you guys going to do to increase the technology offering on a.i. steve: our first prior is to invest the business. so they continue to develop the core reddit product, the user economy which we discussed the copter platform, a.i. efforts, all of those things. our second priority would be m&a. it's going to help a

openai licenses reddit to get text data to train models. reddit is talking about building ai products into the forum on top of the language models. applied materials makes the machines that makes the chips, like tsmc. it beat estimates but the upper range given by the street, it fell short. where are we at in chip demand? through the proxy of the companies that by the machines. caroline: is this a bellwether? maybe not autos or connected devices but all things ai still driving us. what about china exposure? we can go broadly across the sector with joanne. this is a chip equipment company but what are you seeing in terms of where we are right now? >> better than expected results but their guidance was soft. in this kind of market, that doesn't go over well. they indicated continued demand from and markets except for china. with u.s. trade policy trying to crackdown on exports that would enable china to have its own leading edge chip business, applied materials is in the crosshairs. no surprise. that side will fall sharply. global demand for

reddit revealed a new deal with openai yesterday which allows openai use reddit's data to train its model and will start offering openai tools to users and openai will start advertising on reddit. the deal is similar to one google made with reddit a few months ago and comes as a.i. companies are desperate for more quality data to make their tools smarter and more capable. reddit is a natural place for it full of user generated content with recommendations and opinions on everything from movies to travel tips to the best recommendations for buying your favorite air purifier. also plays into the rivalry we've been seeing between google and openai. search has gotten worse as they stuff more ads into your research and next week google starts rolling out its new a.i. search product, a.i. overview to u.s. users. on the reddit side it's leveraging it and making a.i. companies pay instead of giving it away for free, scott. >> i appreciate that. steve kovach. joining me is reddit shareholder and cnbc contributor lo toney. welcome back. great to see you on this friday. >> thanks for having me. happ

gain in terms of the adherence of reddit.was a terrific story. if we were in a down beat mode, i would say reddit would be up 6 or 7 >> it's not 14% anymore but it is having a nice morning >> it's a down day no one's listening to me on this brown shoot thing. >> i don't agree people are listening to you. that's not true. they are that's why -- uber's down 9% brown shoots i don't know >> he missed a little. you can't miss by anything in this market. that's why i think that the -- the virtuous circle, i don't mean to pick on that person, it's just not what i'm seeing. i'm seeing a lot of companies see a tickdown where they didn't expect to, and a lot of it had to do with the back-up in rates, and the back-up in rates is something that may have turned out to be jawboning by jay where he didn't have to raise rates. all he had to do was say, look, i don't know what we're going to do, and send out some of the babbits to talk about -- you know the rotary guys but you know what i mean babbit they kind of came out, and they did their

do you consider them winners here, jeff >> i don't consider reddit a winner i fully don't understandto $65 with all the enthusiasm, anything ai does get some euphoria into it but when you look at what reddit is, it's an aggregation of news. switching gears, apples to oranges, astera is ai related. that's the investing theme for now two years. think of the vehicle, the car, all these different platform which is need artificial intelligence you think of the engine, nvidia, amd, intel the chips asteria labs are the tires the rubber to the road connectivity parts they make, that's going to allow all the horsepower coming out of the new super, duper chips they're producing and allow it to be connectivity i want to stick with astera. technically more room to run here and that's where i will put my money versus reddit which i don't understand. >> i use reddit all the time i find out things like -- >> i think it's a great news source i don't want to put it in the same bucket. >> i see ai supplanting it hey, wisdom of the crowd, how do i use scott's four step fertilizer. >> maybe i need to ed

so there are some places where with the reddit are useful, places where reddit jokes are not for factualy, so you have to strike a good balance there. liz: how do you avoid stepping into the hot hole that google stepped into -- potholing that a google stepped into which was the hoo -- hallucinations or maybe it was coded that way, built that way when people did searches of george washington, a picture of at least certainly the outfit george washington wore came up, but george washington was not white as a he was in true history, he was black. or the pope was a female. how grow make sure that that doesn't -- do you make sure that doesn't get salted in to perplexity's serbs? >> this is where -- searches? >> this is where it's very important to remember that your -- is to serve accurate answers, accurate information, right? and there's this whole problem in a.i. called the alignment problem which is what are the fundamental values you're going through, and there's two dimensions, helplessness and harmlessness, and which dimension do you want to err more towards. and we believe, like, in gen

don't look know, reddit, reddit may save the ipo market. my take how unfair things have been, finally how you have run out of money. all that and so much more on "making money." ♪. charles: you can still feel the anxiety in the air, i know you can, right? this is the thing. this is the pandemic index, panic index, rather. this is the month of april. it erupted right? because listen we were down for the first time in a little while, like since last october. first time a lot of investors have faired any adversity, a lot of people headed for the hills. here's the then though. we have come down very dramatically since then but still, you can testimony again, there is a fair amount, let's call it fear. the fear and greed gauge. this thing has been stuck in fear for a long time. even after we had the big strong days, right? we had four or five days up pretty nicely. we've been in the fear gauge for sometime now. you got to wonder what is going on here. i don't necessarily think it is fear but i would say the action, the action in this market real

julia on reddit , the first earnings report as a publicly traded company. at 5200.will get there today but close. >> able to hang in there. it has been a sprint, volume is superlight. i say that as a way of people in the stress draining out of the market. look at the s&p index fund, etf, or qqq, not much more than half an average days volume and people are more comfortable with this set up, whether you have the horses to blast through the highs, still not clear. chris verrone was talking about the financials, banks are holding their gains today, making some hay with the decline in bond yields. consumer cyclicals, something i have been watching or how heavy they have been in the last couple of weeks, they are improving on a relative basis to things like staples. things are holding together reasonably well. >> what do you make about the commentary about the growth of trade of stanley druckenmiller , nvdia, trimming a little bit across the board . adam parker writing about protecting capital as a growth manager. >> you have seen the evidence in the actual market. the w

and reddit soaring today on news that openai will use reddit content to trade chatgpt.venue stream, tyler, for a lot of these companies. >> let's start with microsoft because it's next on deck for the big ai event next week. our steve coback with more on what we might see and hear from microsoft. >> we got two ai reveals down so far with two more to go. this week we got the latest from openai and google. starting monday it's microsoft's turn with its build developers conference. expecting a slew of ai announcements including new ai computers with qualcomm's first ever pc chip. plus, plenty on the software side like ai features in windows 11. and of course then there's co-pilot, microsoft's more key ai assistant. microsoft has been making a huge push to sell it to businesses this year, but it's not cheap. it's $30 per user per month. for now, investors, though, they have little clarity into how well co-pilot is selling despite all that hype from microsoft. i spent some time over the last few days catching up with ctos and other executives who decided to buy tallaco-pilot

let's get to the chatter on re reddit. boris, to be clear, reddit isn't one of the mean stocks. tell us what you're seeing, what started all of us, where is the biggest buzz? is this another retail driven phenomenon we're seeing? >> hi, kelly, thank you for having me. in terms of the reddit, it started creeping up sunday night and exploded on monday morning. especially for gamestop and also for amc and some of the other stocks. and we have seen this before about three years ago. so there's some similar trends, but there's also some differences this time around, particularly around some of the other web data we scraped for these companies where we see stronger fundamentals. >> explain that for a second, what's different? >> so reddit is only one of the data sets. we also scrape employee sentiment, job listings, and, you know, something like ten other data sets. we're seeing that for these mean stocks, there's actually some web data supporting their encreased stock price and increased valuation. amc they have been hiring aggressively the last three months and the employee sentimen

i have to start with reddit. they jumped 37% or so. initially they popped.ome of that has come up about 1.3% at the moment. i'm curious your read. this is their first earnings report. sarah: it started off strong. the bigger question with reddit is not, are people using it? the answer is yes. the question is, how much value is there? increasingly, one thing i worry about is meta-. facebook groups are very similar , increasingly, to subreddits. i worry more about reddit's core business model and its ability to engage users. katie: other social media stocks out there, it has been a tough go. what we have learned from snap, for example. how are you feeling about social media at this moment? sarah: snap has not made games the way he would think it would. a lot of those users are realizing that if they do have to get off tiktok, they are going to be focused more on it graham. i think snap is almost a whatsapp competitor. that is not bad from a loyalty perspective, but it can be really bad if your business model is advertising. a lot of the underlying peace here i

real de las publicaciones de reddit, cuyo contenido será incorporado en chatgpt.re de este año de casi 3 mil millones de dólares. y esta noche es la gran final de la casa de los famosos. y el domingo aleska quedó a un paso de convertirse en la ganadora. después de llegar al sexto lugar. vamos con ivette machín, quien se encuentra con la modelo adelante ivette. qué tal amigos? esta noche es la gran noche, la final de la casa de los famosos. y bueno, aquí me encuentro con aleska, sexta finalista, quien salió hace apenas unas horas de esa misma casa. cómo te sientes? así es. yo todavía estoy llena de muchas emociones. no he dormido nada. no sé lo que está todavía pasando en el mundo real. no sé nada de redes y todavía tengo como que una parte de mi dentro de la casa y la otra aquí afuera. entonces es difícil decirte como me siento ahora, pero extraño a mi familia , extraño a mi gente, extraño la casa. es son muchas emociones a la vez. me decías que no te lo esperabas. no, no me lo esperaba para nada. incluso me veía hoy en la gran final agarrada de la mano. así con l

in other business news making headlines — reddit has announced a new partnership with 0penai to bringcial news website's attempt to diversify beyond its advertising business. reddit also recently teamed up with alphabet to make its content available for training google's ai models. and that's it for this edition of business today. thanks for watching. hello, and welcome to sportsday with me, will perry. here's what's coming up... 48 hours from the bigest heavyweight bout in decades, both boxers face the world's media in riyad. leeds united are one win away from a premier league returns at the first time of asking. and xander schauffele shoots the lowest round in major history to make an electric start to the 106th pga championship, in valhallas. we're just two days away from the heavyweight unification super—fight in saudi arabia. tyson fury, the wbc champion, taking on 0lexander usyk, who is putting his wbo, wba and ibf world titles on the line. the winner would become the first four belt heavyweight world champion. the fighters have been rolled out for a news conference, and both me

reddit listed in the united states in march. and that's it for this edition of business today.the meantime, bye for now. hello and welcome to sportsday. i'm jane dougall. they were the underdogs, but borussia dortmund are through to the champions league final after beating paris saint—germain in their own back yard. and who will they meet? could it be an all—german final? bayern munich play real madrid on wednesday in the second leg of the other semifinal. plus, we hearfrom an emotional olympic marathon champion, eliod kipchoge, who says he feared for the safety of his family after trolls wrongly blamed him for the death of a rival. welcome to the programme. well, despite the home side hitting the post six times across both legs of the semifinal, paris saint—germain failed to score and are out of the champions league. it's borussia dortmund who will play in the final at wembley on the 1st ofjune after a breathtaking second leg in france. dortmund went into the match i—0 and scored on the night in the french capital to win 2—0 on aggregate and reach their first champions league

there's animal spirits in other names, like reddit, robin hood.etrade has been difficult for some users since the open. so take that information and just explain the basics of the relationship of the trading in these names and what's happening with meme stocks more broadly. >> we're seeing a pushback into a lot of the retail names. and new names like reddit and old names, but we are seeing a lot of systems inundated with buy orders. that can put a strain on some of the systems to pair up buyers and sellers, and that's why you see a number of these trades kind of potentially fail to deliver, and a number of other issues. this is not the short mania that it was in 2021 when over 140% of game stock was sold short. it's closer to 24%. this is creating issues for the underlying systems that are trying to match up these buy and sell orders, and that also, with the volatility and some of the swings where people were trying to put in orders, that's why we saw the stock halted eight times in the first hour, because there was so much of an order and back lo

shares rose 13% following news of reddit's deal with openai.will advertise with reddit, and the social media company will use ai to build new features. reddit's shares have gained almost 90% since the company went public almost two months ago, and it is a big week for openai. with the announcement of its new ai model, gpt four. protesters concerned about safety rallied outside the openai headquarters during that presentation. now, a company leader is resigning and echoing those protesters concerns, john laika explained his departure this week with a series of posts on x, saying safety was taking a back seat to shiny project products. his words ceo sam altman replied saying the company has more work to do. >> coming up next, they worked, but they didn't get paid. now they're fighting to make it right. >> plus, why people high on fentanyl can't stand up straight. have you seen this out on the streets? a greater understanding of the drug's effect can help us build a better bay time ever. the dow closes above 40,000. investors are boosted by recent

the deal is part of reddit�*s attempt to diversify beyond its advertising business — after it agreedfrom today on business today, my first time opening the programme. and the new york opening bell is coming in new york in three hours' time. stay with us the top stories on bbc news. hello from the bbc sport centre. the next women's football world cup will be in brazil. they've been named hosts of the 2027 tournament after beating a joint bid by the netherlands, belgium and germany. brazil! this was the announcement a little earlier, at fifa's congress in bangkok. they're the first nation to be handed the rights by an open vote, with member associations voting 119 to 78 in favour of brazil. it's the first time a women's world cup will be hosted by a south american country. this was a great feeling for us to host such a massive tournament like the world cup and have the first world cup, the women's world cup in brazil in south america. we are proud of that and i'm sure this tournament is going to inspire a lot of the others to play football, to keep improving. some news breaking in the

dom, i got skewed on the reddit boards. horrible. i still think about it years la later. i try to respond and they don't let you respond unless you post often on there. we have a similar situation here. the company is supposed to make 12 cents lastyear and they made 6 cents last year. this is a different economy. people are working. there's not as it's a bit of a transition period. i will probably try to short the stock via options. i tried do it last time. the trade wasn't taken. i would caution. there are too many opportunities to get involved in this. >> todd, before we let you go, i asked about the listessons lear here. you can't blame folks over the chart with massive upside volatility. it shows peoplegetting rich really quick. what is your advice for those people who want to go out and trap a trade with stocks or the options in names like gamestop or amc or blackberry and others? >> i think i'm speaking more to the younger crowd and also the cnbc viewership, perhaps, children. there are so many companies out there going through an amazing generative a.i. technology

good shares for reddit surging after announcing a new partnership with a.i. and shares up 14% and thil begin offering certain ai features to users and moderates powered by openai which previously announced a similar deal with google. >>> house republicans delivering a rebuke to president biden on israel over his decision to pause shipments of weapons to that country. lawmakers there passing a bill seeking to force that weapons transfer, the white house has said the president would veto the bill if it passes congress. the democratic led senate is expected to reject it. and shares of chinese property stocks surging on fresh intervention by the government there for the embattled sector. china's vice premiere announcing beijing will allow local government officials to buy some homes at, quote, reasonable prices to provide affordable housing. meanwhile the people's bank of china effectively scrapping the country's minimum mortgage interest rate while cutting the minimum down payment ratio for first time silvana henao, thanky much. >>> a lot more to come including

reddit posts an increase well ahead of expectations as ad revenue outpaced social media rivals o withrought of 39% the results of reddits first with ceo steve huffman saying the firm's investments in ai and machine learning would support engainch management on the platform he told jim cramer that the strong advertising support was improving. >> really at the end of the day since reddit represents everybody's interests and passions, that means every company's customers are on r reddit somewhere so simply by making the product easier to use and making ads better and better, we're recognizing that. >>> disney posted earnings at almost 10% lower after quarter two earnings release >> maybe most heartening of all was direct to consumer streaming. last year that business lost about $600 million in , and the entertainment portion made a couple million overall streaming was up 12%, which led entertainment to 5% of revenue growth in quarter. >>> coming up, we're going to look at earnings of the chipmaker arm. we're going to bring you all the isreils coming up rit te ghafr th bak tah, these bill

>> well, reddit is out with its first quarter results. it beat revenue expectations and as a result, the stock was up sharply. you can see right now, up by better than 15%. last night, the ceo was on "mad money" and said twhat was becaus of the success of advertisers. >> our advertising customers are finding more and more success on reddit really at the end of the day, since reddit represents everybody's interests and passions, that means every company's customers are probably on reddit somewhere. and so simply by making the product easier to use, making our ad tools better and better, we're able to kind of realize that connection. >> that was the ceo steve huffman. joining us now to talk about it is jurorosh beck raymond james senior analyst this was a big beat in terms of expectations, not just for revenue, but smaller than expected loss. you're talking of a loss of more than $8 a share. when does this start to get to the point of profitability >> yeah, well, thanks for having me on, becky you're right it was a great quarter they beat r

they are a new stream of revenue for reddit which just went public and is unprofitable.ngs. they have 82 million users. stuart: that's a lot of users. lauren: active users. stuart: and it's up 13% and rising. lauren: yeah. it's a big deal. stuart: how about tesla? where are they planning the boost their a.i. development? lauren: china. reuters or reporting that elon musk is develop cooing a plan for a data center in china to train the algorithm that's needed for their fully awe town mouse vehicles -- autonomous. complicated because the u.s., obviously, restricts data transfer from the u.s. to china. would tesla need a local partner? if do today just use local chinese data? we don't know. but the bottom line is tesla's growth is stalled, is and elon musk's surprise visit to beijing, meeting with local officials, he obviously sees china and full self-driving as catalysts. stuart: he needs help. 173 on tesla's stock. tesla's rival, the chinese ev maker xpeng, they're going to soon be able to drive -- wait a minute. drive their flying car? lauren: this is so, this is the jet

jim cramer had steve huffman of reddit on last night. >> every companies' customers are on reddit. by making our ad tools easier to use and making our ads better and better, we're recognizing that position. >>> lyft is posting a second positive quarter it expects higher cash generation for the year due to increase in rides and active riders it's expanding its local economist lyft is up just about 6% for much more on the corner, be sure to catch ceo david risher on "squawk box" later today. >>> revian's revivian reports mixed results. it expects to reach positive inforcement. we'll have more when the ceo rj ska ridge is on "squawk box" later on. >>> earning season is in full swing. our silvia amaro joins us with a positive day across europe. >> you're seeing european equities mostly in the green i would high light it with the ftse 100 trading at new record highs. and tomorrow we're going to hear from the bank of england we'll see if they give more hints of when they might cut rates. mostly what we're seeing today has to do with the earning season let me just share this number with y

reddit shares are surgin

. >> but first, two bay area tech companies are teaming up with reddit and open ai are doing to ex ndhatgpt that announcement today sent reddit shares up 12% in extended trading as part of the partnership, chatgpt and other openai products will use reddit's application programing interface and openai will also become a reddit advertising partner. >> the san francisco based ai startup is being accused of stealing voices from actors today. two voice actors sued artificial intelligence company lenovo in federal court in new york. in the class action complaint, the actors say laveau is using their voices without permission in its ai voiceover technology. they're seeking damages of at least $5 million, accusing lenovo of fraud, false advertising and violating their publicity rights. >> the justice department has formally moved to reclassify marijuana as a less dangerous drug. president biden says this change will be monumental. >> look, folks, no one should be in jail merely for using or possessing marijuana. period. far too many lives have been upended because of failed approach to mariju

the partnership will bring reddit content to chatgpt and enable reddit to bring new a.i.-powered features to its users and moderators. openai will become an advertising partner as part of the deal. openai cofounder and ceo sam altman is a big reddit shareholder. one of his holding companies has a stake of 7%. openai saying the partnership was led by oh openai's coo. ad partnership, immediately, is huge. all the rest, possibly, could be gray si, i guess. >> yeah, so, this is a company that benefited right before their ipo, they did a couple deals for training these large language models. so, they are focused on generative a.i., how to leverage their data and users and the content being created there. this is a great deal. this is not a company that i thought was going to do particularly well after its ipo, but they keep putting stuff out, they keep cutting costs where it seems to be. and they actually did something that a lot of internet companies over the last seven years have not done, they beat and raised out of the gate. so, i think they're getting the benefit of the d

take a look at reddit shares one of the highlights of the morning stock is up 15% despite a $575 millionuarterly loss following the march ipo the company did report a drop in revenue 48% higher in revenue also reported a jump in users and add revenue mahoney asset managing ken mahoney thank you for being here. the company is citing expenses from the ipo for the loss of $575 million but strong revenue and user increases has a stock up strong, your thoughts. >> i go by supply and demand so the stock is up in the market likes it even though the numbers may have not been there but you think about facebook and other ipos and comparing reddit to facebook or meta but there in that category yet but early on making an investment for the pivoting and trying to find the market coming into the ipo i think they'll be fine but if they accumulate another quarter i don't think it will be so easy going it's fine where they are but we're going to have to tweak the numbers ensure wall street delivering. maria: how would you assess earnings overall? >> i like them the big one is an nvidia that's coming up i

i know some of the redditers who are long-term redditers don't like there's more ads but he doesn't runity. it's a jigger not. he's doing so many things right. >> for how much consternation there was, how long it's taking them to go public, it seems to have worked out. >> absolutely fabulous. him on "mad money" and then to have bill redding on pinterest. whoa. i mean, talk about a sight that you want. i want to gin up advertising just to be on pinterest. these two companies are remarkable. they're replacing like fox and, i don't know, tbs or tnt, whatever over there. >> we never really had a chance yesterday to talk about venue sports. the name for the bundle. >> how do you like that? remember that? what was that? kenview? i believe in venue. i just wish it wasn't done so quickly. it seemed like an emergency situation. i happen to like parent company of the network, comcast bundle. >> stream saver. >> david was here when -- i don't have to imitate david for what he said. because he didn't say anything. >> there's a look at some of the media names, after the up fronts this week, the moff

a quick look at the mean stocks, earlier the morning gamestop went up after a rural ring kitty on reddit the stock went straight up, 20 minutes ago another roaring kitty video was posted in the stock is still straight up, look a gamestop look at all the mean stocks there up on reddit, inexplicable to me. >> the hedge funds is stop shorting us were unstoppable and unbreakable. stuart: you think roaring kitty is sending a message. >> the videos and pictures, yes. >> "coast to coast" starts now. >> happening right now stocks kicking off the week looking for direction as wall street awaits a new b batch of inflation a cle when rate cuts could be coming, the top team of market gurus here to dig through it, trump on trial the prosecution star witness michael cohen is on the stand, cohen's testimony about the former boston current nemesis proved credible to move the needle with the jury were to take you live in the courthouse for the very latest in real estate reeling, mortgage rates over 7% scarce home listing and rephrasing prices the housing market is in mayhem, when kalman joins me to expla

. >>> and reddit rides the meme stock wave in a record high. and federal prosecutors saying boeing is possibly on the hook for as much as $2.5 billion. it's wednesday, may 15th. you're watching "worldwide exchange" right here on cnbc. >>> good morning. welcome to "worldwide exchange." thank you for being with us on this wednesday morning. h let's kick off the horde with the u.s. futures after a mostly positive day for stocks yesterday that saw the nasdaq close at a fresh all-time high. meanwhile you are seeing some marginal gains implied at the "opening bell" today. the s&p 500 higher by roughly 2 to 3 points and the nasdaq up 1 to 2. ahead of the "opening bell," at least 31 s&p 500 companies are now at 52-week highs or better or all-time highs across the economic spectrum, across ought of them, including qualcomm, bank of america, freepo freeport-mcmoran. at least one-year highs. also checking the bond market ahead of today's inflation rate, yields are ticking lower. the 10-year ticking solidly below the halfway mark. the 2-year note yield 4.0

is now trying to appeal to amateur traders on reddit, who call themselves apes and intentionally invested companies like gamestop. >> the politician saying that he personally invested $24,000 in gamestop. the tweet accompanied by the bizarre new campaign poster showing kennedy and an actual ape, each holding what appears to be a falcon. >> michael: wait, forget gamestop. why does this picture look like he's on a honeymoon with that falcon? are they in love, or is the falcon just trying to get a better angle on that worm in his brain? now you might think it's weird for rfk jr. to be going after this tiny little specific group, but don't forget, america is just a bunch of tiny little specific groups. first, he gets the reddit apes, then he gets the furries, then the trad-wives, cottage-core tiktok, disney adults, jetblue frequent fliers with mosaic elite status... the next thing you know, it's january and he's giving his state of the union from burning man. let's move on to republican candidate donald trump. recently, he took over the republican national committee, and today, someone sent

and then there's reddit.this morning despite the company reporting a $575 million quarteh ipo. the company did report an increase in revenue if up 7% from last year -- 48% from last year. that stock is up 1%. rep sans capital reporting 49 if ipos so far this year with proceeds of over nearly $13 billion, pete. look, we're finally seeing some, you know, some action in the ipo market. but what did you make of the reddit quarter? >> yeah, the reddit quarter, i thought, was pretty incredible actually. when you look at what they've done global he, the massive user or base they've got and the fact they want to now expand hedge wise, they want to expand this even more -- language wise. the revenue up 48%, that's a massive number. the problem that they still have though is profitability. i like this company, we all a probably use it to some degree, we all know about the ad side of this. but i think that the reality is right now that once you go public, you've got to start at some point in time, you've got to show eve

the good news sent reddit stock up when that opening bell rang this morning.r and decor ringing the bell. they are celebrating their first warehouse in brooklyn, taking a live look at the numbers, the dow jones has maintained about a quarter of a percent gain since that opening bell rang this morning, but the s&p 500 and the nasdaq headed lower tech stocks in particular, not doing well today. and that includes uber, kind of considered in the tech group reporting some disappointing numbers. another san francisco company. and this morning santa clara county has closed a $250 million budget. gap county leaders were able to reduce spending and find ways to generate enough revenue to erase the deficit in its $12.4 billion budget. new revenue includes increasing fees for burning building permits. the county is also eliminating vacant positions, reducing spending on some services, and selling off unused vehicles. santa clara county officials say no cuts will be made to critical safety services. san francisco voters could decide on a proposal to simplify the city's ta

i'm really curious on your opinion on reddit's stock. >> reddit's easy.e been saying buy buy buy. i think it's one of those companies like pinterest that is now part of the bundle of what advertisers want. they are reaching the right people when you can get them and people age up in that thing. i think it's a terrific, terrific stock. i really like reddit. i'm going to go to vera in new jersey. vera! >> caller: hello, jim. thanks for taking my call. >> of course. >> caller: long-time fan. first-time caller. and a club member. >> thanks very much. everyone should join the club. it's not so hard. what's up? >> caller: okay. i am much older than you but still learning. >> that's okay. >> caller: my question for you is on amd. buy, sell, or hold? >> amd, lisa suh's doing a terrific job. i think she's going to revise up how many of these gpu, the really good chips she's going to have and how much she's going to sell. i think you buy amd here. all right. look, this list i just put together is the perfect reason why maybe we should stop obsessing about the fed a

reddit surging after the social media company announced a partnership with openai.ficial intelligence features through the deal. it's a licensing deal. while opena a i will have access to reddit's content and user conversations using all of that to train a.i. models. that is valuable. the stock surging 11. advanced micro devices trading up on a reuters report that microsoft is planning to offer amd a.i. chips to customers as an alternative to nvidia. the report said microsoft will provide details at its build developer conferences which is next week. shares of cracker barrel tumbling after the restaurant chain cut its dividend by 80%. it's going there from $1.30 a share to 25 cents. the company needs to shore up capital to support a rebrand and a turn-around. stock's down 14%. >>> well, dangers on the red sea forcing a major change of course for energy shippers. the ceo of ten limited is here to tell us what war in the middle east means for one of the biggest operators of oil, lng and product tankers. it's a fox business exclusive. let's check the dow right now on t

the deal is part of reddit�*s attempt to diversify beyond its advertising business, after it agreed tos largest shareholder, canadian pension fund, 0mers, has quit the board of the troubled utilities giant, amid reports that more investors are set to do the same. it's added to concerns that thames, which serves a quarter of the uk population but is struggling under huge debts, may have to be nationalised. coming up — whiskey — but not scotch. how rivals from across the border are taking on the big names to become masters of the malt. around the world and across the uk, this is bbc news. to india now, and a scandal that has threatened the reputation of one of its most famous products. nothing to do with the election. uk food regulators have told the bbc that they have tightened up checks on all indian spices, after allegations that high levels of cancer—causing pesticides have been found in two top brands. india is the world's biggest producer, exporter and consumer of spices, and the reports have sparked global concern. the bbc�*s india business correspondent, archana shukla, has more.

year, a user by the name of luke warm, 273 agents anonymous user posted a photo of their dog on a redditt's just where people share cute photos of their doug somehow after and we're not quite exactly sure where we've been working with a group called news guard who tracked down a lot of this we're not entirely sure who first just pluck this image from reddit and claimed it was the unfortunate dog in question but we tried to track and quickly started spreading a lot of influencers on twitter. people who tweet about the news all day. and then it's one thing for of course, it's a circulate on on, on twitter and x. but now, of course showing up in the telegraph, one of the biggest newspapers in the world. >> it is just such a study in how quickly something like that can spread without any sort of verification what is the dog's owner saying? and also to like what is the broader takeaway here that this does this stuff does spread really quickly without being verified. >> yeah. i mean, the dog's owner, who wants remain anonymous, told news gary just that kinda found discussing that there are poo

the announcement sent reddit shares up 12. versions can read and discuss images, translate languages and identify emotions from visual expressions. >> our time now for $37 and cents. new research is out. it's concluding there's a large income gap here in california. the study found that families statewide in the top 10% and annual income now earn ten times more than people in the bottom 10, a wider gap in all but seven states. the researcher was conducted by the public policy institute of california, who study found that higher education is a plays, a major role in that growing income gap. >> education is certainly a piece of this that that families with those college degree holders have seen rising earnings over time. but it's also a the result of a number of structural factors. so part of this is of course discrimination in hiring. but also, you know, access to jobs in terms of, where housing is located, historical redlining. >> now, this california study was based on the most recent data that's available, which was in 2022.

and what i find so interesting about the openai deal with reddit, reddit has all these forums. they are one of the top google answers when you try to figure out how to something. so a great deal deal if they could make a lot of money licensing that sort of knowledge to a platform like openai to train it to give better answers. how do your language models populate, what do wilthey learn from? >> many of our models that we'll develop of develop will be focused on a company's internal documentation to make the organizations more efficient. let's say your transaction history and to help provide some indication j mawhy maybe a transaction was stopped for financial crime. so the yooft muse of the models primarily smaller data sets, very task specific so the information is relevant. >> and it owns all of its day and then can use it to train systems to give appropriate answers. i think it would be much harder to solve that for a broadly used search and question and answer begin and the biggest risk toot to the ai innovations is pulling back and suing saying we want to be compensated fo

my stocks are kkr, reddit, waste management, shake shack and meta. >> okay meta is tech , reddit is communicationsastly improving fast food company. kkr is an amazingly good private equity company . and what can i say for wm except that temu and shein and up there? it is a fantastic company. we have tech, dining out, communication, that is perfect diversification. we are 3 for 3. let's press our luck with greg and florida. >> hey. i really enjoy your insight. i appreciate the insight into the portfolio. >> people like to be on tv and i love it when they are on. we are the only show on earth left that puts real people on. let's go to work. >> you are correct. my stocks are broad calm, chipotle, deckers outdoor, goldman sachs, and in my diversified? >> we know that broadcom does a lot with cell phones. chipotle is the finest in the country. deckers had such a quarter. it was a blowout on so many different levels. vertex is cf but they also have an anti-pain company that is not habit-forming. goldman has been the best performer and finance. we have finance, tax, restaurant, clothing, drug. that is a

mandeep: and read -- reddit, openai needs their data more than reddit needing chatgpt. relies on reddit's data. these models have to be constantly trained every two months because that is how you make the model current. the best source of data is reddit data and twitter data, all of these forums that are there. these large language models, the intelligence comes from these large data sets out there. jonathan: have they given up on siri? mandeep: part of the openai deal, and this is just speculation, is aimed at improving siri. what google has shown is that you can have an assistant without having to toggle to the apps. right now on android, you don't need to toggle through the app to go to their voice assistant. it is there all the time. it is contextually there. that is a big enhancement at the operating system level. with siri, they need to do something similar in terms of voice features that you don't have to toggle through the app all the time. can ask siri a question because it is available all the time. jonathan: we joke that our phone is listening to us. i am dea

reddit shares are higher in the first quarter and well above the average analyst estimates and reddit pointed to improvements in ad targeting technology. this is too far below the midpoint previously issued because of a new u.s. ban on chip exports to china tech giant huawei and revenue will remain within the previously guarded range but the be below the midpoint. we will have an interview with the uber ceo and shares are down .8%. we ascended over to our balance of power colleagues, when lawmakers raphael warnock on a busy agenda and washington. >> an exclusive interview with raphael warnock and his first time on bloomberg tv and radio and he sits on a key committee that is in focus this week the senate's transmission committee which is leading the fight on the faa reauthorization bill. thank you for being here on bloomberg and of course you and your colleagues are up against a deadline, friday is when this reauthorization has to happen and there needs to be an amendment agreement to have it happen quickly, where exactly do things stand? what amendments deserve to get a vote? >> it i

enhanced experiences, potentially bringing in more advertising revenue, reddit exploring new monetizationhannels including creator tools and licensing data to third parties. the company went public on the new york stock ebbing change in march, the stock is up 66% since the ipo price of $34 a share. quick break and then 16 democrats voting with republicans on a bill to force the u.s. and joe biden to send weapons to israel. my next guest is demanding a new special counsel investigate biden's decision to delay that aid new york congresswoman claudia tenney is here with a lot more on that. you're watching "mornings with maria" live on fox business. stay with us. ♪ i bought the team! kevin...? i bought the team! i put it on my chase freedom unlimited card. and i'm gonna' cashback on a few other things too... starting with the sound system! curry from deep. that's caaaaaaaaash. i prefer the old intro! this is much better! i don't think so! steph, one more thing... the team owner gets five minutes a game. cash bros? woo! i like it. i'll break it to klay. cashback like a pro with chase freedom u

a quick look at the mean stocks, earlier the morning gamestop went up after a rural ring kitty on redditl straight up, look a gamestop look at all the mean stocks there up on reddit, inexplicable to me. >> the hedge funds is stop shorting us were unstoppable and unbreakable. stuart: you think roaring kitty is sending a message. >> the videos and pictures, yes. >> "coast to coast" starts now

when the credit cycle turns, a lot more players are in the private reddit that has existed for a fewades but has really grown in the last few years. it could because for alarm and that is what jamie dimon is talking about. katie: i only have one minute left here but something you touched on when it comes to private credit, is there enough opportunity out there to deploy all of this money? >> historically when we think about investments across asset classes, which they discussed in the earnings call, thinking about this idea of 50% in public equities, 20% in alternatives, all of the growth you have seen in the alternative space has been from that 20% bucket. what it looks like, with fewer and fewer public companies out there, there definitely is a sense out there that the asset class will continue to grow. yes there will be more investors jumping into the space. jumping into what feels like a growing market, so the sentiment right now is that there is money to be made. katie: so, the sentiment is there. always great to speak with you. that doesn't work "bloomberg surveillance." this i

we see other shares, read it and tesla -- reddit and tesla, one of the retail darlings.dit is also up, driven by the fact that the company appointed a new director for advertising. squarespace is up by 13%. this is on the news that the company is going private. let's flip the board. i want to talk about the financial sector here in the u.s. we saw activity from hedge funds last week. goldman sachs prime brokerage data showed hedge funds have been selling financial stocks for the past three weeks. last week, financials saw their largest net something in two months. traders i spoke with said there are possibly two reasons behind the move. on the one hand, we already passed through financial earnings season. now we don't have a big catalyst for the market. we also see signs for the economic slow down here in the u.s. when it comes to gdp or consumer sentiment data, which can be negative for financial stocks. when it comes to technical analysis, traders are flagging that this sector is reaching an overbought territory, now trading at 65. when it reaches the 70 level, this ca

shares of reddit, rivian, ea, wynn, all on the move.bers out of the reports next. >>> plus, has the a.i. surge come too far too fast in our markets? what one billionaire investor has to say about the sector, and what it could mean for your money. ilwh "ston" ey returns.sor, i promise that our relationship will go well beyond just investment decisions. it's the intersection of your money and your life where we can make the biggest difference. [announcer] charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com (vo) what does it mean to be rich? to helping people achieve their financial goals. maybe rich is less about reaching a magic number... and more about discovering magic. >>> welcome back to "fast money. stocks closing mixed with the dow notching its fifth day of gains. its longest winning streak since december the s&p with a small gain, and the nasdaq lower by a tenth of a percent, snapping its own three