{"id":20693,"date":"2024-05-17T16:30:48","date_gmt":"2024-05-17T16:30:48","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20693"},"modified":"2024-05-17T12:44:30","modified_gmt":"2024-05-17T12:44:30","slug":"openai-partnership-boosts-reddit-rddt-stock-by-11","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/openai-partnership-boosts-reddit-rddt-stock-by-11\/","title":{"rendered":"OpenAI Partnership Boosts Reddit (RDDT) Stock by 11%"},"content":{"rendered":"<p>After hours, <a href=\"https:\/\/www.tradingview.com\/symbols\/NYSE-RDDT\/\">Reddit (RDDT)<\/a> rose 11% after the social media company announced a data-sharing agreement with <strong>OpenAI<\/strong>, the creator of the artificial intelligence chatbot ChatGPT.<\/p>\n<p>May 16 saw <strong>Reddit<\/strong> announce that it will provide <strong>OpenAI<\/strong> access to its Data API, which will supply real-time material from postings on the site and<em> \u201cbring <strong>Reddit<\/strong> content to ChatGPT and new products.\u201d<\/em><\/p>\n<p>As a trade, <strong>OpenAI<\/strong> will provide moderators and <strong>Reddit<\/strong> users with a slew of new artificial intelligence-powered services meant to increase user interaction.<\/p>\n<p><span style=\"color: #0000ff\"><em>Related: <a href=\"https:\/\/coinengineer.net\/blog\/openai-unveils-chatgpts-human-like-upgrade-gpt-4o-model\/\">OpenAI Unveils ChatGPT\u2019s Human-like Upgrade: GPT-4o Model<\/a><\/em><\/span><\/p>\n<p>The AI startup was also announced by <strong>Reddit<\/strong> as its newest advertising partner.<\/p>\n<p><strong>Reddit<\/strong> dropped 5.45% on May 16, but Google Finance reports that following the collaboration announcement after the bell, it rose 11.05% to $62.61 in after-hours trade.<\/p>\n<p>Similar to this deal, which reportedly cost $60 million, <strong>Reddit<\/strong> and Google inked it in February.<\/p>\n<p>Long ago, <strong>Reddit<\/strong> set out to create revenue streams outside of selling advertising space and improve community involvement.<\/p>\n<p>The agreement is made in the middle of increasing legal action against <strong>OpenAI<\/strong> and other AI companies for allegedly stealing private information and copyrighted property through their data-gathering techniques for model training.<\/p>\n<p>According to various reports, on May 16, the biggest music publisher in the world, Sony, wrote letters to more than 700 companies, including AI developers <strong>OpenAI<\/strong>, Microsoft, and Google, stating that it had &#8220;reason to believe&#8221; they may have used its music &#8220;unauthorizedly&#8221; to train their models.<\/p>\n<p>With scaling issues, the company closed down Community Points, a blockchain-based rewards program, last October.<\/p>\n<p>In February, <strong>Reddit<\/strong> said it had Bitcoin (BTC) and Ether (ETH) in its monetary reserves and even let users pay with Ether and Polygon (MATIC) for some virtual goods.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After hours, Reddit (RDDT) rose 11% after the social media company announced a data-sharing agreement with OpenAI, the creator of the artificial intelligence chatbot ChatGPT. May 16 saw Reddit announce that it will provide OpenAI access to its Data API, which will supply real-time material from postings on the site and \u201cbring Reddit content to<\/p>\n","protected":false},"author":6,"featured_media":20695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[2120,2056,6181],"class_list":["post-20693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-openai","tag-reddit","tag-reddit-rddt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>OpenAI Partnership Boosts Reddit (RDDT) Stock by 11% - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Reddit shares rise 11% after announcing a $60M data-sharing agreement with OpenAI, enhancing AI-powered services and user interaction.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/openai-partnership-boosts-reddit-rddt-stock-by-11\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OpenAI Partnership Boosts Reddit (RDDT) Stock by 11% - 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