TECH - Reddit IPO Potential 'Watershed' Moment For Tech Industry Says Wedbush's Dan Ives: Expects It To Hit $1B In Revenue Next Year | Benzinga
Wedbush's Dan Ives thinks that the upcoming Reddit Inc. IPO has the potential to be a "watershed" moment for the tech industry.
What Happened: Ives said the Reddit IPO is primarily about the engagement on the platform and its potential for advertising as well as the data it generates to train AI and large language models.
"This is a company that's going to do billion [dollar] revenues in the next year," Ives said during an interaction on CNBC.
The question, according to Ives, is can Reddit turn into an AI story from an LLM?
"If you look at it from the investor perspective, what is the appetite for Reddit, this is a potential watershed moment, broader for tech."
Reddit, ...