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Reddit Strikes $60 Million Licensing Deal with Google for AI Training

Feb 22, 2024 - techtimes.com
Reddit has reportedly entered into a $60 million per year agreement with Google, allowing the tech giant to use its content to train AI models. The deal, which has not been officially confirmed by either party, is part of Reddit's strategy to generate additional revenue in the face of stiff competition from TikTok and Facebook, as it prepares for an IPO. The company, valued at $10 billion, plans to sell 10% of its shares in the IPO.

In related news, the US House of Representatives has launched a bipartisan task force to address the risks posed by AI, particularly in relation to personal data access. The task force aims to produce a comprehensive report outlining potential safeguards against threats linked to AI. This comes as tech giants including Adobe, Amazon, Google, Meta, Microsoft, OpenAI, and TikTok pledged to take precautions to prevent AI misuse and misinformation at the Munich Security Conference.

Key takeaways:

  • Reddit has reportedly reached an agreement with Google to provide its content to train AI models, with Google's parent firm, Alphabet, allegedly paying Reddit $60 million each year for the agreement.
  • Reddit is seeking to create extra earnings as it prepares for an IPO, planning to sell 10% of its shares.
  • Reddit has started charging companies for API access, which has raised copyright issues in the AI field with content owners.
  • The US House of Representatives has launched a bipartisan task force to address concerns related to the risks posed by artificial intelligence, aiming to produce a comprehensive report on potential safeguards against AI threats.
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