Mark Cuban is buying into Twitter's artificial intelligence
Twitter's stock price jumped more than 4% Tuesday after billionaire investor Mark Cuban confirmed he acquired shares in the social media company.
Source: Brett Molina
Mark Cuban, chairman of AXS TV and owner of the Dallas
Mark Cuban, chairman of AXS TV and owner of the Dallas Mavericks, listens to testimony during a Senate Judiciary Subcommittee hearing Dec. 7, 2016 in Washington, DC. (Photo: Mark Wilson, Getty Images)
According to CNBC, Cuban said he is buying shares in companies focused on tech such as artificial intelligence, deep learning and machine learning.
"I started buying Twitter recently because I think they finally got their act together with artificial intelligence," during an interview on CNBC show Squawk Alley.
During its quarterly earnings call last week, Twitter cited advances in machine learning on its platform to draw people back to the app when they have been away for a period of time, or to battle abuse and fight against spam accounts.
Twitter also reported a boost in users in the first quarter, saying increased interest in news and politics was bringing both new and resurrected users to the platform.
"We're encouraged by the audience growth momentum we saw in the first quarter," said Twitter CEO Jack Dorsey in a statement made when earnings were announced.
Last week, Dorsey confirmed acquiring another 574,000 shares in Twitter, boosting his 2017 total to 1 million.