Reddit signs $60M annual deal with AI company.

Reddit has signed a contract allowing a large AI company to train its models on the social media platform's content, according to people familiar with the matter. The deal is worth about $60 million on an annualized basis and could be a model for future contracts of a similar nature. Reddit's agreement with the unnamed AI company could help the company tap into investor enthusiasm for AI technology and boost its potential initial public offering (IPO).

February 17, 2024
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