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Reddit stock price increase by 20% by end of 2024?
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No • 50%
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OpenAI Partners with Reddit to Enhance ChatGPT, Reddit Stock Soars 12% After-Hours
May 16, 2024, 10:10 PM
OpenAI has announced a partnership with Reddit to access and utilize Reddit's data for training its language models, including ChatGPT. This deal allows OpenAI to leverage Reddit's Data API, which provides real-time, structured, and unique content. The collaboration is expected to enhance the capabilities of ChatGPT and other OpenAI products and could be a significant disruptor for search queries. Following the announcement, Reddit's stock ($RDDT) surged 12% after-hours, recovering from a 5.3% decline earlier in the day. The financial terms of the deal have not been disclosed, but it includes an advertising commitment from OpenAI and access to OpenAI's technology for Reddit. Sam Altman was recused from the deal.
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