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Google (GOOGL) has had an undeniable grip on the internet search market for years, claiming a market share above 90%. But this reality is changing rapidly thanks to artificial intelligence (AI). Chatbots like ChatGPT are replacing traditional searches, as users opt for more personalized results and enhanced features like data analysis.
Social media company Reddit (RDDT) has taken notice of this trend, launching its own AI-powered search feature. In response, Morgan Stanley analysts upgraded RDDT stock to an “Overweight” rating, citing “strong fundamentals and GAAP profitability.” Analysts also think AI could be the key to getting Reddit into the S&P 500 Index ($SPX).
