Reddit Inc. signage is seen on the New York Stock Exchange trading floor, prior to Reddit IPO, Thursday, March. 21, 2024. OpenAI and Reddit are teaming up in a deal that will bring the social media platform's content to ChatGPT. Shares of Reddit jumped 17% before the market open on Friday, May 17. (AP Photo/Yuki Iwamura, File)OpenAI and Reddit are teaming up in a deal that will bring the social media platform's content to ChatGPT.
Share of Reddit surged more than 10% before the market open on Friday.
Reddit said in a blog post that the agreement will give OpenAI access to its data application programming interface, which provides real-time, structured, and unique content from the platform.
Reddit users and moderators will also gain access to new artificial intelligence-powered features, and OpenAI will become a Reddit advertising partner.
“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," Reddit co-founder and CEO Steve Huffman said in a statement. "Including it in ChatGPT upholds our belief in a connected internet, helps people find more of what they’re looking for, and helps new audiences find community on Reddit.”
Reddit said the deal is consistent with other content arrangements, and doesn't change its data API terms or developer terms, which say that content accessed through Reddit’s data API can't be used for commercial purposes without the platform's approval.
Reddit said that API access is still free for non-commercial usage under its published threshold.
“We are thrilled to partner with Reddit to enhance ChatGPT with uniquely timely and relevant information, and to explore the possibilities to enrich the Reddit experience with AI-powered features," Brad Lightcap, OpenAI chief operating officer, said in a statement.
Reddit made its debut on Wall Street in March, with investors pushing the value of the company close to $9 billion seconds after it began trading on the New York Stock Exchange.
Reddit has a large audience that religiously visits the service to discuss a potpourri of subjects that range from silly memes to existential worries, as well as get recommendations from like-minded people.
OpenAI CEO Sam Altman accumulated a stake in Reddit as an early investor and it has made him one of the company’s biggest shareholders.
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