Snap Partners with Perplexity to Integrate AI-Powered Search in Snapchat, Stock Soars 12%
Snap Inc. shares surged 12% on Thursday following robust quarterly results and a landmark $400 million partnership with AI firm Perplexity. The deal will embed conversational AI search functionality into Snapchat by early 2025, marking Snap's strategic pivot toward AI-driven engagement.
The collaboration positions Snapchat as a testing ground for AI innovations, with Perplexity committing cash and equity over 12 months. Investors rewarded the dual catalysts of user growth and AI monetization potential, despite the absence of direct cryptocurrency implications in the announcement.
While no blockchain assets or exchanges were referenced, the market's reaction underscores growing appetite for tech-AI convergence plays. The MOVE follows Meta's AI integration across WhatsApp and Instagram, intensifying competition in social media's AI arms race.
