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I have spent the entire week live on Opening Bid discussing tech.

Nvidia’s (NVDA) record-high stock price.

Circle’s (CRCL) exploding — then plunging — stock price.

Micron’s (MU) surprisingly strong quarter, coming a day after FedEx’s (FDX) limp quarter suggested economic weakness ahead.

The potential of a new tech bubble as traders pile into the July 30 rate cut from the Federal Reserve narrative.

But all week long, I didn’t mention a single social media name. No Meta (META). No Snap (SNAP). No Reddit (RDDT).

I should’ve mentioned Reddit, however.

While the stock is playing its part in the major jump in tech stocks the past month (+37%), shares are still down 14% year to date amid fears that Google’s AI initiatives will drive traffic away from Reddit content.

After talking with experts this past week and earlier at the Cannes Lions conference, I think the relative underperformance of Reddit’s stock versus the market is overdone.

“Reddit is at the epicenter of disruptive finance and a major player in the years ahead,” Wedbush tech analyst Dan Ives told me.

The company has greatly improved the content quality on its platform, attracting advertisers’ interest. It’s also making a large investment in AI-powered search to serve up more relevant content.

Reddit COO Jen Wong told me at Cannes Lions (video above) that the company is all in on AI.

“Reddit is a lot of conversation in words, so AI allows us to machine translate global conversations into multiple languages, and we’re doing this today in French and German, in fact, and in almost 12 different languages,” Wong said. “And these are conversations that are about universal life experiences, like parenting or pop culture.”

The company is defending its business against AI chatbot startup and web scraper Anthropic (and others of its ilk). That could have a positive outcome for the business.

“What’s important to us is that we are able to protect our users’ privacy, their deletion rights, like we have policies that ensure that when users take down a post, the post is taken down,” Wong said. “And so it’s really important, and as we’ve said in our terms of service, that we have a conversation with folks who have access to our data because that’s a commitment that we have in terms of our policies, and it’s also to know how Reddit data is used.”