Reddit Strikes $60 Million Deal With Google That Allows the Search Giant to Train AI Models on Its Posts

Reddit has struck a deal with Google that allows the search giant to use posts from the online discussion site for training its artificial intelligence models and to improve services such as Google Search.

The arrangement, announced Thursday and valued at roughly $60 million, will also give Reddit access to Google AI models for improving its internal site search and other features. Reddit declined to comment or answer questions beyond its written statement about the deal.

Separately, the San Francisco-based company announced plans for its initial public offering Wednesday. In documents filed with the Securities and Exchange Commission, Reddit said it reported net income of $18.5 million — its first profit in two years — in the October-December quarter on revenue of $249.8 million. The company said it aims to list its shares on the New York Stock Exchange under the ticker symbol RDDT.

Read the source article at AP News