Reddit Secures $60 Million AI Content Licensing Deal

Reddit has signed a $60 million contract allowing an unnamed artificial intelligence company to train its models using the platform’s content. This was reported by Bloomberg, citing sources.

According to the agency, the company disclosed the deal to potential investors as part of its IPO. The agreement could serve as a template for future contracts of a similar nature.

Recently, some tech companies have started making deals with media platforms and social networks, licensing portions of content used for training AI models.

In December 2023, OpenAI signed an agreement with German publisher Axel Springer for access to its articles. Previously, the AI company had made deals with other organizations, including Associated Press.

In April, Reddit announced it would begin charging for API access from companies using it to collect data for training large language models.