Reddit shares jump after OpenAI partnership

rose 13 per cent on Friday, following a partnership with artificial intelligence firm OpenAI that is expected to boost advertising income for the social media platform.

The partnership, announced on Thursday, allows Reddit to leverage OpenAI’s technology to build tools and features, and OpenAI’s ChatGPT platform to integrate Reddit’s content in a “real-time, structured” manner. OpenAI will also become an advertising partner for Reddit. More than half the analysts covering the stock have a “buy” or higher rating, with a median price of $63.

Reddit already has data licensing agreements with undisclosed firms that are projected to contribute at least $66.4-million in revenue this year. The license allows third parties to access, search, and analyze data on the platform.

Source: The AI Report (theaireport.net)

Canada News Breaking News Video Canadian Breaking News Breaking News Globe And Mail Breaking News Globe And Mail Canada News Photos World News Local News National News Us News Foreign News Sports News Arts News Life News Lifestyle Canada Traffic Canada Weather Trudeau Government Federal Government Canada Sports Canada Sports News Politics Politics News Political News Political Opinion Environment Economy Technology Education Travel Canada Alberta Bc British Columbia Manitoba Ontario Quebec Nova Scotia Pei New Brunswick Newfoundland And Labrador Nunavut Northwest Territories Yukon Globe And Mail

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market, GameStop, Reddit-OpenAI partnership: 3 ThingsStocks (^DJI, ^IXIC, ^GSPC) are astir and eyeing big gains to end the week after the Dow Jones Industrial Average crossed above 40,000 on Thursday and the S&...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Reddit stock soars on OpenAI partnershipShares of Reddit (RDDT) are jumping after announcing a partnership with OpenAI. As part of the deal, OpenAI will use Reddit content for ChatGPT and other...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

OpenAI, Reddit Sign Partnership on ChatGPT Content, AdvertisingOpenAI unveiled a partnership with Reddit Inc. that will bring the social network’s content to chatbot ChatGPT and other products, and allow Reddit to add new artificial intelligence features to its online communities.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Musk Escalates OpenAI Fight With Subpoena of Ex-Board MemberElon Musk has stepped up his court fight with OpenAI by demanding documents from ex-board member Helen Toner, who was a key player in the short-lived ousting of OpenAI Chief Executive Officer Sam Altman last year.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Apple Intensifies Talks With OpenAI for iPhone Generative AI FeaturesApple Inc. has renewed discussions with OpenAI about using the startup’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Apple renews talks with OpenAI for iPhone generative AI features, Bloomberg News reportsExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »