Reddit Stock Soars After Company Inks Partnership With ChatGPT Owner OpenAI [Video]

Reddit (RDDT) shares soared nearly 12% in extended-hours trading Thursday after the company announced a partnership with OpenAI that allows the ChatGPT owner to train its artificial intelligence (AI) models using the news aggregation social network’s content.

Reddit will give OpenAI access to its application programming interface (API), which provides access to its real-time, structured, and unique content, in exchange for certain OpenAI-powered features being offered to Reddit’s users and moderators. In addition, Reddit will also add OpenAI as an 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 CEO Steve Huffman said in a statement released late Thursday. “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,” he added.

Reddit struck a similar deal with Google earlier …