Snapchat's Q1 Earnings and AI Features Cause 7% Share Drop

Despite unveiling new AI features and partnerships, Snap's shares tumbled over 7% on Thursday, posting the second-worst session in 2023. The company announced the release of new AI features, including the ability to create images through its artificial intelligence chatbot, My AI, and launched a new initiative called "Creator Marketplace." Snap also unveiled Ares, a new augmented reality shopping suite. The company will report its Q1 financial results on Thursday, April 27, after the closing bell.