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Meta CEO Mark Zuckerberg unnerved investors on the company's quarterly earnings call Wednesday by focusing on its long-term investments in AI and the metaverse.Shares of Meta tumbled as much as 19% in extended trading Wednesday."We've historically seen a lot of volatility in our stock during this phase of our produc...

Top venture capitalist Vinod Khosla and Palantir advisor Jacob Helberg penned an open letter to the U.S. Senate calling on it to pass the so-called TikTok ban bill.Helberg and Khosla have regularly voiced their views on the dangers TikTok poses to the U.S., describing it as a "weapon of war."In an interview with CNB...

Reddit shares are plummeting after experiencing a rally stemming from the social media company's IPO last week.Shares closed Thursday at $49.30, falling below their closing price on Reddit's first day of trading last week on the New York Stock Exchange. Earlier this week, Reddit disclosed in a corporate filing that ...

Reddit mascot Snoo is seen on the floor of the New York Stock Exchange (NYSE) as Reddit begins trading in New York on March 21, 2024. Timothy A. Clary | AFP | Getty ImagesOpenAI CEO Sam Altman says he has no equity in the $80 billion artificial intelligence startup he co-founded in 2015.His Reddit ownership is anoth...

Following the lead of companies like Airbnb and Rivian, Reddit is inviting some users to participate in its upcoming IPO. Reddit moderators told CNBC that they're declining the offer, citing lingering tensions with management and concerns over the company's business."It doesn't really feel like Reddit is necessarily...

In this photo illustration a Reddit logo is seen displayed on a smartphone.Mateusz Slodkowski | Sopa Images | Lightrocket | Getty ImagesReddit, the 19-year-old website that hosts millions of online forums, priced its IPO on Wednesday at $34 a share, the top of the expected range.The offering brought in $519 million,...

In this photo illustration, the Reddit logo is displayed on a cell phone and computer monitor on February 13, 2024 in Los Angeles, California. Mario Tama | Getty ImagesReddit is seeking a valuation of up to $6.5 billion in its upcoming IPO, according to a person familiar with the matter.The company plans to price it...

Frank Slootman, CEO of Snowflake, on the day of the company's initial public offering on Sept. 16, 2020.CNBCSnowflake said Wednesday that billionaire CEO Frank Slootman, who joined the cloud software company in 2019 and took it public the following year, is retiring and will be replaced by former Google ad chief Sri...

Budrul Chukrut | Lightrocket | Getty ImagesSocial media company Reddit filed its IPO prospectus with the Securities and Exchange Commission on Thursday after a yearslong run-up. The company plans to trade on the New York Stock Exchange under the ticker symbol "RDDT."Reddit said it had $804 million in annual sales fo...

Unity Software said Monday that it would lay off about 1,800 employees, or 25% of its overall workforce, as part of a corporate restructuring plan.The company said it is unable to "reasonably estimate the costs and charges in connection with this reduction, which it expects will be substantially incurred in the firs...