NYSE Executive Says ‘Handful' of AI Startups Are Exploring IPOs [BNN Bloomberg (Canada)]
Reddit, Inc. Class A (RDDT)
Company Research
Source: BNN Bloomberg
“I'd say that the majority of the companies that are truly pure-play, AI-focused are still mostly financing themselves in the private markets,” Michael Harris, global head of capital markets at NYSE, said at the Information's Private Capital Conference on Tuesday. “But we have seen a handful of companies that are at least exploring going through the process.” Since ChatGPT was released in late 2022, a long list of AI startups have launched to build generative AI services for consumers and businesses. These startups have raised billions from venture capital firms and big tech companies to support the high computing costs required to develop AI tools. Recently, there has been clear demand for public offerings — and AI-related ventures, specifically — on Wall Street. Reddit Inc. soared in its public debut after pitching investors on how it could profit from licensing its data to build AI systems. Astera Labs Inc., a semiconductor connectivity company, also had a strong start to trad
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News
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at Citigroup Inc. from $53.00 to $65.00. They now have a "buy" rating on the stock.MarketBeat
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at JMP Securities from $53.00 to $63.00. They now have a "market outperform" rating on the stock.MarketBeat
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at Sanford C. Bernstein from $40.00 to $45.00. They now have an "underperform" rating on the stock.MarketBeat
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at Roth Mkm from $50.00 to $61.00. They now have a "buy" rating on the stock.MarketBeat
- Reddit (RDDT) Q1 Earnings Beat Estimates, Revenues Up Y/Y [Yahoo! Finance]Yahoo! Finance
RDDT
Earnings
- 5/7/24 - Beat
RDDT
Sec Filings
- 5/8/24 - Form 10-Q
- 5/7/24 - Form 8-K
- 5/3/24 - Form SC
- RDDT's page on the SEC website