IPO and an Altman Connection
Reddit, the popular social media platform, recently filed for an Initial Public Offering (IPO). Interestingly, Sam Altman, the CEO of OpenAI, is one of Reddit’s largest shareholders. Altman, who has long-standing ties with Reddit, holds around 8.7% of Reddit’s outstanding shares. This connection could potentially result in a significant financial gain for Altman, as the value of his shares is likely to increase substantially with Reddit’s market debut.
Reddit’s AI Training Deal with Google: A Win for OpenAI’s Altman
In a move that could have significant implications for the future of artificial intelligence, Reddit has struck a deal with Google to train its AI chatbots. The deal, which is reportedly worth $60 million per year, will give Google access to a massive amount of data from Reddit, which it will use to train its chatbots to better understand and respond to human conversation.
In Short
- Reddit has signed a $60 million per year AI training deal with Google, allowing Google to use Reddit’s content to train its AI chatbots.
- This deal is a significant part of Reddit’s business model, coinciding with its filing for an initial public offering.
- OpenAI’s CEO, Sam Altman, a major shareholder in Reddit, could potentially benefit significantly from this deal.