The buying and selling flooring of the New York Inventory Alternate prepares for the social media platform Reddit’s preliminary public providing in New York Metropolis on March 21, 2024.
Spencer Platt | Getty Pictures
Reddit shares surged 11% in prolonged buying and selling on Thursday after the social media firm introduced a partnership with OpenAI that can permit the ChatGPT maker to coach its synthetic intelligence fashions on Reddit content material.
As a part of the deal, OpenAI will acquire entry to Reddit’s Knowledge software programming interface, or API, “which provides real-time, structured, and unique content from Reddit,” in keeping with a launch.
In change, Reddit will start providing sure AI options to customers and moderators, powered by OpenAI, which can even develop into a Reddit promoting accomplice. Google introduced an identical partnership with Reddit in February, permitting the corporate to coach its AI fashions, resembling Gemini, on Reddit content material by way of entry to the platform’s API.
“Reddit has become one of the internet’s largest open archives of authentic, relevant, and always up to date human conversations about anything and everything,” CEO Steve Huffman stated in Thursday’s launch. “Including it in ChatGPT upholds our belief in a connected internet, helps people find more or what they’re looking for, and helps new audiences find community on Reddit.”
OpenAI CEO Sam Altman is a former board member and main shareholder in Reddit, with a stake valued at about $750 million after Thursday’s pop. OpenAI Chief Working Officer Brad Lightcap spearheaded the deal, which was accepted by the corporate’s board, the discharge stated.
Earlier this week, OpenAI launched a brand new AI mannequin and desktop model of ChatGPT, together with an up to date person interface, the corporate’s newest effort to develop use of its fashionable chatbot. The replace brings GPT-4 to everybody, together with OpenAI’s free customers, Chief Expertise Officer Mira Murati stated Monday in a livestreamed occasion.
Murati stated the brand new mannequin, GPT-4o, is “much faster,” with improved capabilities in textual content, video and audio. OpenAI stated it will definitely plans to permit customers to video chat with ChatGPT.
For Reddit, the deal supplies one other spark following a rally on Monday and Tuesday tied to a broader surge in so-called meme shares resembling GameStop. Reddit, which went public in March and reached a report shut just a few days after its preliminary public providing, is again to buying and selling close to its excessive of $65.11.
