Reddit Strikes Lucrative AI Deal with Google Amid Market Debut Preparations

Reddit has recently inked a significant agreement with Google, as disclosed by three individuals with knowledge of the situation.

The deal involves Reddit granting access to its content for the purpose of training artificial intelligence models utilized by the tech giant in its search engine operations.

According to one of the insiders, the contract with Google's parent company, Alphabet, amounts to approximately $60 million annually.

This partnership highlights Reddit's strategic moves as it gears up for a highly anticipated debut on the stock market.

With stiff competition for advertising revenue from platforms such as TikTok and Meta Platform's Facebook, Reddit is actively seeking avenues to boost its revenue streams.

Source: Anna Tong, Echo Wang and Martin Coulter / Reuters