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Reuters itself appears to have withdrawn the article entirely, with a piece in its place that reads:

“March 17 (Reuters) - A story on Google expanding its partnership with Reddit was based on outdated information and has been withdrawn.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 Keegan2/13/26

Ahead of IPO, Anthropic adds veteran executive and former Trump administration official to board

Anthropic is moving to put the pieces in place for a successful IPO this year.

Today, the company announced that Chris Liddel would join its board of directors.

Liddel is an seasoned executive who previously served as CFO for Microsoft, GM, and International Paper.

Liddel also comes with experience in government, having served as the deputy White House chief of staff during the first Trump administration.

Ties to the Trump world could be helpful for Anthropic as it pushes to enter the public market. It’s reportedly not on the greatest terms with the current administration, as the startup has pushed back on using its Claude AI for surveillance applications.

Exclusive | Anthropic Adds New Board Member as It Eyes IPO

Liddel is an seasoned executive who previously served as CFO for Microsoft, GM, and International Paper.

Liddel also comes with experience in government, having served as the deputy White House chief of staff during the first Trump administration.

Rani Molla2/13/26

Meta is bringing back facial recognition for its smart glasses

Meta is reviving its highly controversial facial recognition efforts, with plans to incorporate the tech into its smart glasses as soon as this year, The New York Times reports.

In 2021, around the time Facebook rebranded as Meta, the company shut down the facial recognition software it had used to tag people in photos, saying it needed to “find the right balance.”

Now, according to an internal memo reviewed by the Times, Meta seems to feel that it’s at least found the right moment, noting that the fraught and crowded political climate could allow the feature to attract less scrutiny.

“We will launch during a dynamic political environment where many civil society groups that we would expect to attack us would have their resources focused on other concerns,” the document reads.

The tech, called “Name Tag” internally, would let smart glass wearers identify and surface information about people they see with the glasses by using Meta’s artificial intelligence assistant.

Meta Plans to Add Facial Recognition Technology to Its Smart Glasses

“We will launch during a dynamic political environment where many civil society groups that we would expect to attack us would have their resources focused on other concerns,” the document reads.

The tech, called “Name Tag” internally, would let smart glass wearers identify and surface information about people they see with the glasses by using Meta’s artificial intelligence assistant.

Tom Jones

the elder scrolls

2/13/26

Older Americans are spending more time on their phones than younger cohorts, per new data

Some members of the TikTok generation are (very slightly) less glued to their phones than other adults, it turns out.

A man, a woman and a child with a phone instead of a head

Rani Molla

2/13/26

Apple doesn’t have an AI spending problem. It has an AI execution problem.

Apple isn’t falling far from the AI tree.

Super Bowl LX: New England Patriots v Seattle Seahawks

Jon Keegan2/12/26

Anthropic raises $30 billion, now valued at $380 billion

Anthropic is now valued at $380 billion, after closing on its latest round of fundraising, taking in $30 billion from a wide range of investors. The Series G round was co-led by D. E. Shaw Ventures, Dragoneer, Founders Fund, ICONIQ, and the UAE’s investment arm, MGX.

Some other investors include: Qatar Investment Authority (QIA), Sequoia Capital, Fidelity Management & Research Company, JPMorgan Chase, Lightspeed Venture Partners, Microsoft, and Nvidia.

Anthropic offered a few details on the current state of its business:

Anthropic said that its annual run-rate revenue has reached $14 billion, seeing 10x growth each of the past three years.
“The number of customers spending over $100,000 annually on Claude (as represented by run-rate revenue) has grown 7x in the past year.”
“Claude Code’s run-rate revenue has grown to over $2.5 billion; this figure has more than doubled since the beginning of 2026.”
Business subscriptions to Claude Code have quadrupled since the start of 2026.

In a blog post announcing the round, the company said:

“We train and run Claude on a diversified range of AI hardware — AWS Trainium, Google TPUs, and NVIDIA GPUs — which means we can match workloads to the chips best suited for them. This diversity of platforms translates to better performance and greater resilience for the enterprise customers that depend on Claude for critical work.”

Anthropic raises $30 billion in Series G funding at $380 billion post-money valuation