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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 ...

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,...

Nvidia on Monday announced a new generation of artificial intelligence chips and software for running AI models.The new AI graphics processors are named Blackwell and are expected to ship later this year. The announcement comes as companies and software makers still scramble to get their hands on the current generat...

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...

Federal Trade Commission Chair Lina Khan speaks during the New York Times annual DealBook Summit in New York City on Nov. 29, 2023.Michael M. Santiago | Getty ImagesFederal Trade Commission Chair Lina Khan cited the surging stock prices of Nvidia and Arm as an example of how blocking mergers can lead to increased in...

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...

Meta's Reality Labs unit brought in more than $1 billion in fourth-quarter sales but recorded an operating loss of $4.65 billion.The company's heavy spending on the metaverse comes as Apple jumps into the market with its Vision Pro headset, which is slated to debut Friday.The VR and AR market saw a 40% sales drop in...

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...