OpenAI and Reddit are teaming up in a deal that will bring the social media platform’s content to ChatGPT
FILE - Reddit Inc. signage is seen on the New York Stock Exchange trading floor, prior to Reddit IPO, Thursday, March. 21, 2024. OpenAI and Reddit are teaming up in a deal that will bring the social media platform's content to ChatGPT. Shares of Reddit jumped 17% before the market open on Friday, May 17.
Reddit said the deal is consistent with other content arrangements, and doesn't change its data API terms or developer terms, which say that content accessed through Reddit’s data API can't be used for commercial purposes without the platform's approval.
Reddit made its debut on Wall Street in March, with investors pushing the value of the company close to $9 billion seconds after it began trading on the New York Stock Exchange. Reddit has a large audience that religiously visits the service to discuss a potpourri of subjects that range from silly memes to existential worries, as well as get recommendations from like-minded people.
OpenAI CEO Sam Altman accumulated a stake in Reddit as an early investor and it has made him one of the company’s biggest shareholders.
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