Reddit reportedly signs $60million annual deal with AI company

Reddit is allowing access to an “unnamed” artificial intelligence (AI) company ahead of the social platform’s initial public offering (IPO). The deal, reported by Bloomberg is worth “about $60 million on an annualized basis” for AI models to be given access to Reddit’s material. The move to allow an AI company into the nuts and bolts of content could be seen as a way to hook in more investors ahead of the platform making moves to enter the public trading domain, as we reported last month. Bloomberg’s insider has said the “San Francisco-based firm told prospective investors in its IPO that it had signed the deal, worth about $60 million......

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