Reddit shares jumped 16% in premarket trading on Friday after an upbeat quarterly revenue forecast underscored growing ‌returns from the social media company's AI-driven advertising tools. The company's ‌AI-optimized ad platform helps advertisers place targeted ads directly within relevant discussion threads across its ​interest-based communities called subreddits. The strong results signal that the company's strategy is paying off as Reddit takes on bigger ad rivals such as Meta's Instagram and Facebook.