r/IPO: Reddit's hoping to go public in March

1/18/24 7:00PM

IPO forum

‍Social media platform Reddit has confidentially filed paperwork for its long-awaited public listing, aiming for a potential debut in March, after a series of failed attempts at an IPO that date back to 2021.

Founded just a year after Facebook in 2005 (the same year as YouTube), Reddit is very much a part of that early social media vintage — but, unlike many of its peers, Reddit has maintained its early-internet feel. At the site’s core remains a series of forums, or “subreddits”, organized by users. There are places to discuss the latest on TV (r/television), places to hype you up (r/getmotivated), places to get advice (r/careerguidance), somewhere to chat about Canada, Mexico or China, places to learn how to code (r/learnprogramming), and about a thousand places for silly stuff (r/deepfriedmemes, r/contagiouslaughter, etc.). If you can think of it, odds are there’s a subreddit for it.

With an emphasis on anonymity — and little reward for building a “following” — Reddit is a far cry from the quick-hit vertical video format that has grown astronomically on TikTok and other platforms. Reddit’s largest groups, “r/funny” and “r/askreddit”, on the other hand, have seen more steady growth.

‍r/stockvaluation

‍The company is targeting a $10bn valuation, just ~1% of social giant Meta, but closer to that of smaller social peers like Snapchat ($26bn) and Pinterest ($25bn) — the last major social media platform to go public in 2019.

Rani Molla

It turns out Tesla’s Cybercab might need to have a steering wheel and pedals after all

Tesla’s Cybercab was supposed to be a steering-wheel-less alternative to its affordable mass market car.

Matt Phillips21h

Intel romps amid reported attempt to poach a 21-year Taiwan Semiconductor veteran

A report in the Taiwanese press that Intel is attempting to recruit a recently retired top Taiwan Semiconductor executive, Wei-Jen Lo, to lead R&D at Intel’s troubled foundry division may account for the bump in Intel shares Tuesday, one analyst told us.

A synopsis of the report from technology analysis and news outlet TrendForce News notes:

“If confirmed, the move could have significant implications for TSMC and the broader Taiwanese semiconductor industry, especially as Intel aggressively expands its foundry business with support from Washington and backing from tech giants like NVIDIA and SoftBank, the report adds.”

But some skepticism about Lo, 75 years old, returning to Intel, where he worked before joining TSMC in 2004, is also warranted, TrendForce says:

“Industry insiders cited by the report say it is unlikely he would join Intel again, given TSMC’s non-compete rules, Intel’s status as a direct competitor, Lo’s advanced age, health considerations, and his long-standing loyalty to TSMC founder Morris Chang. On the other hand, some industry observers warn that Lo, a U.S. citizen, would be difficult for TSMC to restrict, even with non-compete clauses.”

Intel shares have doubled over the last three months, since the US government took a 10% stake in the company in August. Intel is the best-performing stock in the S&P 500 over that period.

Intel Reportedly Eyes Retired TSMC Veteran Wei-Jen Lo, Advanced Node Pioneer, to Lead R&D

“If confirmed, the move could have significant implications for TSMC and the broader Taiwanese semiconductor industry, especially as Intel aggressively expands its foundry business with support from Washington and backing from tech giants like NVIDIA and SoftBank, the report adds.”

But some skepticism about Lo, 75 years old, returning to Intel, where he worked before joining TSMC in 2004, is also warranted, TrendForce says:

“Industry insiders cited by the report say it is unlikely he would join Intel again, given TSMC’s non-compete rules, Intel’s status as a direct competitor, Lo’s advanced age, health considerations, and his long-standing loyalty to TSMC founder Morris Chang. On the other hand, some industry observers warn that Lo, a U.S. citizen, would be difficult for TSMC to restrict, even with non-compete clauses.”

Intel shares have doubled over the last three months, since the US government took a 10% stake in the company in August. Intel is the best-performing stock in the S&P 500 over that period.

Rani Molla

Eye on AI

21h

All eyes on Google Search revenue

It’s hard to tell what’s happening with Search.

Sunny blue sky with large storm clouds in spring.

This earnings season, all eyes are on cloud revenue growth

AI computing demand is generating huge revenue streams for hyperscalers, but the market is closely watching the pace of growth, which is slowing.

Jon Keegan24h

Jon Keegan10/28/25

Nokia surges as Nvidia invests $1 billion in company, a 2.9% stake

Nvidia is taking a 2.9% stake in Nokia, as the Finnish mobile networking company has successfully pivoted to AI and data center technology.

In a press release announcing the deal, Nokia said:

“Nokia intends to accelerate development of Nokia’s 5G & 6G RAN software to run on NVIDIA’s architecture and will make investments to drive Nokia’s strategic goal of increasing its presence in the AI & Cloud market with data center aligned networking solutions within its Network Infrastructure business. Nokia and NVIDIA have agreed to collaborate on AI networking solutions and explore opportunities to incorporate Nokia’s data center switching and optical technologies in NVIDIA’s future AI infrastructure architecture.”

Nokia’s stock shot up over 20% on news of the deal.

Nvidia to Invest $1 Billion in Nokia in AI Networking Push

“Nokia intends to accelerate development of Nokia’s 5G & 6G RAN software to run on NVIDIA’s architecture and will make investments to drive Nokia’s strategic goal of increasing its presence in the AI & Cloud market with data center aligned networking solutions within its Network Infrastructure business. Nokia and NVIDIA have agreed to collaborate on AI networking solutions and explore opportunities to incorporate Nokia’s data center switching and optical technologies in NVIDIA’s future AI infrastructure architecture.”