(Omer Taha Cetin/Getty Images)

Reddit’s stock briefly pumped yesterday after an old news article resurfaced — it’s deeply in the red today

An old Reuters article about a Reddit-Google partnership sent RDDT sharply higher yesterday.

3/18/25 11:33AM

With Reddit’s stock down ~50% since its early February peak, investors in Reddit haven’t had much to celebrate in the last month or so, as the AI momentum reversal has wrecked many of the highest-flying stocks of 2024.

But for a brief moment yesterday, traders sprung into action to bid up the stock, with Reddit breaking out of its market malaise and shares surging ~12% from 2:45 to 3:05 p.m. ET.

The apparent catalyst? A partnership with none other than Google, with numerous outlets running with a headline — Google expands Reddit partnership — that appears to have originated on Reuters, detailing how Reddit will be able to “use Google’s Vertex AI.” The only problem is that the news was more than a year old. A blog post from Google’s website dated February 22, 2024, confirms the details that many of the syndicated versions of the piece — such as this one, which remains on MSN — discussed.

Within about an hour the stock had soared ~12% higher before promptly giving up all the gains, and retail traders, writing on Reddit, weren’t happy:

RDDT Reuters pump and dump
byu/steamcube instocks

Reuters itself appears to have withdrawn the article entirely, with a piece in its place that reads:

“March 17 (Reuters) - A story on Google expanding its partnership with Reddit was based on outdated information and has been withdrawn.
There will be no substitute.”

So, why is Reddit getting hammered again this morning? There are a few possible reasons:

Reddit is strongly correlated with the “risk-on momentum trade” in Big Tech stocks. With the market down, led lower by names like Meta and Tesla, Reddit is coming under pressure.
Unfavorable analyst coverage: according to Barron’s, Redburn analysts launched coverage of the social networking site on Monday with a sell rating and a price target of $75.
Comments made by the company’s CEO last week, which implied that it was more valuable to use its data internally than license it to Google or OpenAI. Part of some investors’ bull theses on the stock was that it would continue to sign lucrative AI licensing deals.

Jon Keegan23m

OpenAI shares how it will charge for ChatGPT ads

Last week, OpenAI announced that ads were going to be rolling out to ChatGPT in the coming weeks.

Now we have more details about what OpenAI is telling advertisers. According to a report from The Information, OpenAI has reached out to “dozens” of advertisers, and will charge based on ad views.

Advertisers are still waiting for further details, but the company is asking for less than $1 million each in ad spending, while the company tests out the new system according to the report.

Ads are supposed to begin in February, and will only appear for free ChatGPT, and ChatGPT Go users.

OpenAI Lines Up Advertisers, Reveals Key Details Ahead of Ads Launch

Advertisers are still waiting for further details, but the company is asking for less than $1 million each in ad spending, while the company tests out the new system according to the report.

Ads are supposed to begin in February, and will only appear for free ChatGPT, and ChatGPT Go users.

Rani Molla51m

Apple is reportedly working on a wearable AI pin

Move over OpenAI, Apple is reportedly also developing a mysterious AI powered wearable device: a pin that looks like a "thin, flat, circular disc with an aluminum-and-glass shell.”

The Information reports that the device is the size of an AirTag, and has two cameras, a speaker, three microphones, and wireless charging. It could be available by early 2027.

Apple, which has lagged its peers in AI and recently teamed up with Googleto support its upcoming Siri revamp, is hoping to keep up with ChatGPT and Google, which, like Apple, has an AI smartphone. Metaand Google are both also pushing into smart AI glasses.

It’s not to be mistaken with OpenAI’s secretive wearable AI device, which is being made in conjunction with former Appledesigner Jony Ive and is expected to debut in late 2026. The latest rumors suggest the unnamed device, meant to eventually compete with smartphones, might be earbuds.

Apple Developing AI Wearable Pin

Jon Keegan

As public pushback against data centers grows, AI companies promise they’ll be good neighbors

Communities concerned with energy prices, pollution, and water usage are starting to push back on Big Tech’s AI data center building spree. The companies are trying to assure the public that they will pay their way.

Rani Molla6h

Morgan Stanley expects Tesla to have 1,000 Robotaxis by the end of 2026. Musk had predicted 1,500 by the end of 2025

Ahead of Tesla’s earnings report next week, Morgan Stanley has released a note estimating that the company will scale its Robotaxi fleet much more slowly than CEO Elon Musk has said. The firm thinks the automaker will have 1,000 vehicles in its Robotaxi service by the end of 2026 — 500 fewer than Musk estimated a few months ago Tesla would have by the end of 2025.

More key to Tesla’s success, however, will be removing the safety monitors from those rides, which Morgan Stanley says will be a “precursor to personal unsupervised FSD [Full Self-Driving] rollout.” Musk, of course, had also promised to remove safety drivers in Austin by the end of 2025, but driverless rides are still in the testing stage.

Rani Molla8h

Meta says it’s delivered new AI models internally this month and they’re “very good”

Meta’s last AI model release, Llama 4, was marred by delays and accusations of rigged benchmarks, but the company says the latest models built by its Superintelligence Labs team look promising. CTO Andrew Bosworth told reporters at the World Economic Forum that the team delivered new models internally in January and they’re “very good.”

Bosworth didn’t specify what the models are, though The Wall Street Journal has reported that Meta is working on a large language model and an AI image and video model code-named Avocado and Mango, respectively.