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00:02Snap shares rose in pre-market trading after it announced a $400 million partnership with
00:06Perplexity AI to integrate its AI search engine into Snapchat, according to Bloomberg.
00:10The deal, which includes cash and equity, gives Snap a new business line
00:13and expands its AI presence beyond its existing MyAI chatbot.
00:17Shares rose more than 16% in pre-market trading on Thursday
00:20after falling to about 32% year-to-date through Wednesday's close.
00:24Perplexity will compensate Snap with a mix of cash and equity,
00:27with revenue from the partnership expected to begin contributing next year.
00:30Snap CEO Evan Spiegel said Snap sees potential for advertisers to use chatbots
00:35and AI assistants in the app, including link-sponsored snaps to those AI agents.
00:40For all things money, visit Benzinga.com.
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