Snap jumps on new revenue stream, continued social media buzz

Snap jumped as high as 5% Monday after the social media company announced that it would be charging users for its Memories features after they reach 5 gigabytes of storage. Snapchat, which has clocked more than 1 trillion saved Memories on its platform, told TechCrunch the Memory Storage plans would range from $1.99 a month for 100 gigabytes of storage to $15.99 for 5-terabyte plans. The fees will be a new revenue stream for the company, whose ad revenue isn’t growing as fast as its peers’.

Snap rose more than 20% this month amid positive r/WallStreetBets chatter, buyout speculation, and increased investment by Saudi investor Prince Al Waleed bin Talal Al Saud. And the US spin-off of TikTok doesn’t seem to be taking the wind out of Snap’s sales.

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How well can top AI models do these jobs?

An OpenAI benchmark tests how well AI models can perform “economically valuable” jobs.

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Rani Molla

Electric vehicle sales to hit record this quarter as sun sets on tax credit

Cox Automotive expects US EV sales to reach 410,000 in Q3, up more than 20% from last year.

Rani Molla6h

Alibaba jumps as Macquarie and Jefferies up price targets on AI cloud demand

Alibaba is up about 4% this morning after Macquarie analyst Ellie Jiang raised her price target on the stock to a Street high of $235.60, up from $177.90, and Jefferies analyst Thomas Chong upped his price target to $230 from $178, based on a strong cloud outlook and synergies in its rapid-delivery model of e-commerce. The duo is among a string of analysts lately, including those at Morgan Stanley, Baird, and Bank of America, to raise their price targets on the stock.

The Jefferies analyst cited the company’s “remarkable progress made in multiple areas,” including foundation models, AI infrastructure, and agents. Alibaba also jumped up last week on news of an AI spending hike, a new model launch, and a partnership with Nvidia.

Separately, Bloomberg Intelligence analysts Robert Lea and Jasmine Lyu highlighted the e-commerce and cloud giant as a key beneficiary of Huawei’s reported plan to double output of its top AI chip next year.

“The doubling of production of Huawei’s marque AI accelerator chip in 2026 could help ease the semiconductor bottleneck at Alibaba, Tencent and Baidu,” they wrote.

Rani Molla

Electric current

Tesla is on track for its best month since the election

The stock is riding high on analyst upgrades and big expected third-quarter sales.

California Is Ending The Clean Air Vehicle Decal Allowing Electric Vehicle Drivers To Go Solo In Carpool Lane

Rani Molla9/26/25

Apple has built an app like ChatGPT to test AI Siri

Back in 2024, Apple previewed a new AI Siri that the iPhone maker has since mostly failed to deliver, with the overhaul now slated for the spring of 2026. But Bloomberg’s Mark Gurman says Apple is making moves.

Apple has built an internal ChatGPT-like app to test the new Siri, Bloomberg reports. Workers are using the app, code-named Veritas, to test Siri’s ability to search through personal data like emails and perform in-app actions like editing photos — stuff its competitor Google is already offering.

“The app essentially takes the still-in-progress technology from the new Siri and puts it in a form employees can test out more efficiently,” Gurman wrote. “Even without a public launch, the internal tool marks a new phase in Apple’s preparations for Siri’s overhaul, a high-stakes release that could reshape perceptions of its AI efforts.”

Apple Builds a ChatGPT-Like App to Help Test the Revamped Siri

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