Reddit and Google partner up for AI training, sources reveal

Reddit and Google partner up for AI training, sources reveal

Reddit, the popular social media platform that hosts millions of user-generated content, has signed a deal with Google to allow the tech giant to use its data for training artificial intelligence models, according to three people familiar with the matter.

 

Reddit logo is seen in this illustration taken November 7, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

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The contract, which is worth about $60 million per year, is the first of its kind for Reddit, which is preparing to go public in the near future. The deal could also set a precedent for other content owners who want to monetize their data for AI purposes, the sources said.

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The sources, who spoke on condition of anonymity, said that Reddit and Google declined to comment on the deal. Bloomberg first reported the news of Reddit’s content licensing agreement without naming the buyer.

Reddit, which was founded in 2005 by Steve Huffman and Alexis Ohanian, is known for its diverse and vibrant communities that cover topics ranging from politics and memes to science and gaming. The platform has more than 50 billion monthly views and over 100,000 active subreddits, or discussion forums.

The deal with Google could help Reddit generate new revenue streams as it faces increasing competition from other social media platforms such as TikTok and Meta’s Facebook. Reddit, which was valued at about $10 billion in a funding round in 2021, is expected to file for an initial public offering this week, which would reveal its financial details for the first time.

Google, on the other hand, could benefit from accessing Reddit’s rich and varied data, which could improve its AI models and services. Google, which owns the world’s most popular search engine and other products such as YouTube and Gmail, has been investing heavily in AI research and development.

 

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Source : REUTERS

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