Reddit has signed a licensing agreement with a “major AI company” for the purpose of training AI models. This was reported by Bloomberg News Agency. It is not yet known what the company involved is.
The licensing deal means that content from Reddit user-generated content will be used to train an unnamed company's AI models. Bloomberg reports Based on insiders. This will include an agreement worth more than 55.5 million euros annually.
In comparison, OpenAI reportedly pays €4.6 million per year to news publishers to use their data as training data. Apple is also said to be planning to sign multi-year deals with major news companies. According to the New York Times These deals could be worth at least €46 million.
In October of last year, Reddit According to the Washington Post It threatened to block search engines Google and Bing's crawlers on the user-generated platform if they failed to strike deals with AI companies to pay for the data.
Although Reddit's revenue was up 20 percent at the end of 2023, that was still $200 million short of the $1 billion goal it previously set. Reddit has announced an IPO in 2021. This will reportedly happen in March of this year, with the company targeting a valuation of around $5 billion.
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