Mark Cuban Says He's Buying Twitter Stock, TWTR Price Instantly Jumps

During a spot on CNBC's Squawk Alley Tuesday morning billionaire Mark Cuban revealed he had begun buying Twitter stock recently because of the artificial intelligence moves the company has been making.

Read: Twitter Stock Price: Twitter Adds Nine Million New Users, But Revenue Growth Lacking

Shortly after 11 a.m. EST after Cuban revealed that he was buying, the company's stock took a jump. The TWTR stock jumped three percent after his comments and continued to rise afterwards. Twitter opened on the market at $17.57 a share and spiked to $18.24 by 11:30 a.m.

The Dallas Mavericks owner and Shark Tank star sparked interest in investors when he said, "... and I've started buying Twitter just recently because I think they finally got their act together with artificial intelligence."

This comes about a week after the company released its first quarter numbers for 2017 to investors. The numbers showed that the company is actually doing better than many expected. During the first quarter it saw 9 million new users and $548 in revenue. This revenue however is down from last year's, but not as low as some investors were expecting.

Read: How Much Is Snapchat Worth? Stock Price Of App Might Cost More Than It Should

The company recently announced that it was going to partner with Bloomberg to create a 24/7 streaming service and teased new plans with 16 partners like Live Nation and Buzzfeed for live television content. This deal is an expansion of the live events Twitter began streaming last year, like Thursday night football which has since moved to Amazon.

Additionally, the company has introduced a host of new features over the last few months to improve user experience. Twitter lite was added to reduce the amount of data the mobile site uses for those on unreliable networks or with little phone storage.

Other improvements include more muting tools for users looking to keep certain words or phrases off of their timelines and more options to report abusive tweets and accounts. In March the company updated again telling the Twitter community that they were working "to make Twitter safer, moving faster than ever to do so."

That work meant finding abusive accounts before they were reported using algorithms and then suspending or terminating those accounts. They also gave users more control over the notifications in the app like the capability to block notifications from profiles with no photo or unverified email or phone contacts. Users were also given the tools to mute words or phrases for certain time periods. And the company said that it would be in closer contact with users who were reporting to abuse. The company said many of these changes came from suggestions from users of the social media site.