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Reddit strikes data deal with OpenAI

OpenAI and Reddit announced a new partnership on Thursday with the aim of bringing the social media platform’s popular content to ChatGPT.

This mutually beneficial deal will help Reddit further diversify its revenue streams.

“OpenAI will bring enhanced Reddit content to ChatGPT and new products, helping users discover and engage with Reddit communities,” the companies said in a joint statement.

OpenAI will also have access to Reddit’s Data API, which will allow the company’s AI tools to “better understand and present Reddit content, particularly on recent topics,” according to the announcement.

Reddit, meanwhile, will gain a new advertising partner in OpenAI. The amount of the transaction was not disclosed.

The news sent Reddit shares up $12 in extended trading, Reuters reported.

OpenAI CEO Sam Altman, who owns a significant stake in Reddit, already reaped a windfall earlier this year when the company went public in March. Thursday’s announcement included a disclosure of Altman’s shareholder status, confirming that the partnership was led by OpenAI’s COO and approved by its independent board of directors.

This is a revolutionary story. Check back for updates.

businessinsider

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