Reddit’s stock rose 16% before market open on Friday after the company issued a higher-than-expected revenue outlook for the coming quarter. Daily active visitors grew 17% to 126.8 million, while average revenue per user worldwide jumped 44%, driven by AI-powered advertising solutions that help advertisers write copy and manage campaigns.
Apple CEO Tim Cook said on the company’s Q2 earnings call that demand for Mac minis and Mac Studios has outpaced expectations due to developers using them for an AI agent platform called OpenClaw. The base model M4 Mac mini is sold out on Apple’s website, with refurbished units selling for as much as $979 on eBay. Cook flagged memory chip costs as a longer-term concern, noting that memory prices have risen sharply as chip supply is being funneled into AI data centers.
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