Reddit Shares Soar 11% After Announcing Partnership with OpenAI

Benzinga

Reddit signed a data-sharing deal with OpenAI that provides the AI company access to Reddit's API, allowing OpenAI tools to understand Reddit content better. In exchange, OpenAI will provide Reddit with new AI-powered features and tools to strengthen user engagement and become an advertising partner for Reddit. OpenAI and other AI firms face increasing legal issues over data collection methods used to train models. Reddit shares jumped 11% in after-hours trading following the announcement.

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00:00 It's Benzinga and here's what's on the block.

00:02 Reddit signed a data sharing deal with OpenAI that provides the AI company access to Reddit's

00:07 API, allowing OpenAI tools to better understand Reddit content.

00:12 In exchange, OpenAI will provide Reddit with new AI-powered features and tools to strengthen

00:16 user engagement and become an advertising partner for Reddit.

00:20 OpenAI and other AI firms face increasing legal issues over data collection methods

00:24 used to train models.

00:26 Reddit shares jumped 11% in after-hours trading following the announcement.

00:29 For all things money, visit Benzinga.com.

00:31 (upbeat music)

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