Reddit continues to gain new users at an impressive rate. However, fewer than half of those users are logged in to its site.
Reddit and OpenAI's collaboration aims to enhance user experience by integrating Reddit's conversation repository with OpenAI's AI capabilities. The partnership has boosted investor confidence and is expected to offer new revenue streams for RDDT through AI-powered features and advertising opportunities. The collaboration aligns with the trend of media companies monetizing their content through AI partnerships, highlighting the potential for growth in the AI content monetization market.
Reddit's stock surged over 10% on news that it has cut a deal with OpenAI. The details regarding how the arrangement would help Reddit's revenue were thin, so the jump in shares that were already overvalued did not make sense.
Reddit is partnering with OpenAI just a few months after expanding its partnership with Google. The company is seeing user growth thanks to Google and could see growth from partnering with OpenAI.
Reddit (RDDT) is set to benefit from an expanding partner base with the latest addition of Microsoft-backed OpenAI.
Reddit Inc (NYSE:RDDT) stock is soaring today, up 16.9% at $65.90 at last glance.
Reddit (NASDAQ: RDDT ) stock rose 11% overnight after the discussion site licensed its content to OpenAI for training large language models. Under the deal, OpenAI will become a Reddit advertiser, and users will gain access to artificial intelligence (AI) features.
The social-media company's agreement to license its content with Microsoft-backed OpenAI comes after Reddit reached a similar arrangement with Alphabet's Google, reported to be worth $60 million a year.
Since its IPO nearly two months ago, Reddit (NYSE: RDDT) has been a rollercoaster ride for investors.
Reddit (NYSE:RDDT) shares jumped as much as 14% in late-night trading after it announced a new partnership with ChatGPT creator OpenAI. Content from the Reddit (NYSE:RDDT) platform is expected to be taken in by OpenAI's ChatGPT system and other products, meanwhile, OpenAI will also become a Reddit advertising partner.
Reddit Inc (RDDT), arguably the original meme stock, has done a roaring trade in the past few hours. After debuting on the New York Stock Exchange stock exchange as recently as March 21st, the Reddit stock price has climbed an impressive amount in overnight trading.
Reddit will give artificial intelligence startup OpenAI access to its data. Reddit stock jumped, moving toward an aggressive entry.