Snap Shares Soar on $400 Million Perplexity AI Deal

Shares in Snap soared 25% in after-hours trading as the social-media company announced a deal to integrate Perplexity’s AI-powered answer engine directly into Snapchat SNAP -2.28%decrease; red down pointing triangle.

Starting in early 2026, Perplexity will appear in the popular Chat interface for Snapchat’s nearly one billion monthly active users. The AI company will pay Snap $400 million over a year in a deal that includes cash and equity. That’s about 7% of the social-media company’s 2024 sales.

Snap Shares Soar on $400 Million Perplexity AI Deal

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