| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Snap Inc. (NYSE:SNAP) and Perplexity AI have struck a $400 million deal that will bring the AI search engine directly to Snapchat’s nearly 1 billion monthly active users sometime in early 2026.
The announcement came as Snap reported better-than-expected third-quarter results and announced a $500 million stock buyback after markets closed on Wednesday.
Under the agreement, Perplexity will pay Snap $400 million over one year, through a combination of cash and equity. Revenue from the partnership is expected to begin contributing in 2026, Snap said in a statement.
Through the deal, Perplexity’s AI-powered search engine will let Snapchatters “ask questions and get clear, conversational answers drawn from verifiable sources,” all within Snapchat, the company said.
CEO Evan Spiegel also hinted that Snap could pursue similar partnerships with other AI companies. “This partnership reflects our shared vision for the power of AI to enhance discovery and connection on Snapchat, and we look forward to collaborating with more innovative partners in the future.”
Shares of the social media firm jumped over 23% in trading after the bell on Wednesday, but they are down about 35% so far this year. They had closed the previous trading session at $7.30.
Daily active users (DAUs) of Snapchat increased 8% to 477 million globally by the third quarter, but the company said overall DAUs may decline in the fourth quarter, due to changing investment priorities and expected impact from age verification and evolving regulatory landscapes.
Benzinga’s Edge Rankings show weak overall rankings, with Momentum at the 12.8th percentile and Growth at the 31.9th percentile. While short- and medium-term trends are positive, the long-term trend remains negative. For much such data on other stocks, click here.
READ NEXT:
Image via Shutterstock
Posted In: SNAP
