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Snap said the lenses will be powered by its generative AI video model built in-house.
Snap, Inc. (SNAP) stock showed a muted reaction to the company’s announcement regarding a new advanced artificial intelligence (AI) video “Lenses” exclusively for its Snapchat Platinum premium subscription tier.
Following the announcement, the stock ended Wednesday’s session up merely 0.3%. It came under further selling on Thursday amid the broader market slump triggered by macro and geopolitical uncertainty.
The Santa Monica, California-based social media and camera company said the lenses will be powered by its generative AI video model built in-house.
The company said, “We have a long history of being first movers to bring advanced AR, ML and AI tools directly to our community, and we’re excited to see what Snapchatters create.”
To start with, there will be three Lenses, with more to be added every week.
An ongoing Stocktwits poll showed that platform users were divided on the potential benefits of the new tool. While 44% of the respondents said they believed in Snap’s AI strategy, a sizable 38% were pessimistic about it.
The remaining 18% said they weren’t sure.
A user who responded to the poll dismissed AI and the other new-age technologies as “buzz words.”
On Stocktwits, sentiment toward Snap stock rose to ‘bullish’ (68/100) from the ‘neutral' mood seen a day ago. The message volume spiked to ‘high’ levels.
As the stock closed Friday’s session at the lowest since Dec. 2022, a bullish user suggested the stock could have bottomed.
Another user said they have doubled their Snap exposure on expectations the stock would go explosive.
Snap stock is down about 22% year-to-date after declining by a steeper 36% in 2024. It has traded in a 52-week range of $8.29 and $17.33.
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