Dallas Mavericks owner Mark Cuban is now a shareholder of Twitter stock, the 58-year-old shared Tuesday morning during an appearance on CNBC’s Squawk Valley.
“Companies that are geared towards artificial intelligence, machine learning, deep learning, I’ve been buying,” he said. “My biggest holdings are Amazon, who I think is a leader in the space. Netflix for video. And I started buying Twitter just recently because I think they finally got their act together with artificial intelligence.”
Following Cuban’s Twitter-related comment, the stock price increased over four percent.
Twitter shares spike after billionaire investor @MCuban says he is buying $TWTR as artificial intelligence play https://t.co/qpYsMiuMLa pic.twitter.com/nATpJ5vyNI
— CNBC Now (@CNBCnow) May 2, 2017
The declaration comes less than 24 hours after the social platform’s Digital Content NewFronts presentation, where it announced a series of new sports live streaming initiatives with the NFL, WNBA, PGA TOUR and The Players’ Tribune, among others.
Among Twitter’s investors is Los Angeles Clippers owner Steve Ballmer.