Reddit Shares Jump on OpenAI Data-Sharing Deal

Shares of social media firm Reddit are soaring after the company announced a data sharing deal with the parent of ChatGPT, OpenAI.

Reddit rose 11% in after-hours trading after announcing the deal to provide OpenAI with access to its data application programming interface (API).

In exchange, OpenAI will give Reddit users and moderators a suite of new AI-powered features aimed at strengthening user engagement.

OpenAI has also been named Reddit’s latest advertising partner. Reddit signed a similar agreement with Google in February, reportedly worth $60 million

Leave a Reply

Your email address will not be published. Required fields are marked *