According to what was reported by the website Bloombergthe platform Reddit would be ready to sign a new contract with an unspecified company that deals with Artificial Intelligence.
The purpose of this agreement, apparently, would be to provide access to the contents of the social network, data then used to power AI. The report presented by the newspaper speaks of a deal that should be around 60 million dollars a year.
This news, on the other hand, should not be surprising. From the great boom of ChatGPTIn fact, companies that deal with AI are constantly looking for material to power their models.
After an initial period characterized by a legislative vacuum, social media companies like the New York Times have begun to make their voices heard, limiting the range of action of companies operating in the sector. In this scenario, therefore, an agreement between Reddit and the anonymous company appears to be an ideal solution.
Reddit and AI training: a model that could be a lesson
Reddit is planning aIPO (initial public offering) in March 2024, but informed investors that it had signed a licensing agreement beforehand, Bloomberg reported. As for the deal, second Engadget “It could become a model case for the multiple licensing deals that Reddit concludes in the future“.
The platform in question, among other things, is experiencing a golden moment. Reddit’s revenue at the end of 2023 is increased by 20% on an annual basis: in fact, although it is not a popular service like other social networks (at least in Europe) we are talking about a platform capable of attracting millions and millions of users.
In this context, a synergy with a technology giant could further strengthen the image of the service, attracting investors and consolidating Reddit’s position online. OpenAIa company that has paved the way for the use of AI on a large scale, has already signed a similar agreement with Associated Press.