SNAP.BA is trading about 2.1% up today at $7,145 following the announcement that Snap Inc. is spinning off its AI video generation team into a new company, Dotmo.
- The strategic move is expected to significantly reduce AI development costs and sharpen the company's focus on core operations.
- The stock is staging a sharp rebound from last week’s selloff, showing resilience despite a broader rout across the technology sector.