User content, created for free by users, moderated for free by moderators, and now sold for 60 million dollars to Google.
Posted an hour earlier in this community.
That really doesn’t seem like much money. If Reddit is worth $10B, that is 0.6% ROI
At least it is announced and not like “open”ai that is making billions from stolen data.
This is the best summary I could come up with:
In an update on Thursday, Reddit announced it will start providing Google “more efficient ways to train models.”
The partnership will give Reddit access to Vertex AI as well, Google’s AI-powered service that’s supposed to help companies improve their search results.
Just last week, a report from Bloomberg said Reddit struck a $60 million training deal with an unnamed AI company.
Google Search is currently expanding the test of a “forums” filter that lets you browse through results from sites with human discussion, like Reddit, Stack Overflow, and Hacker News.
Reddit previously threatened to block Google from crawling its site over concerns that companies would use its data for free to train AI models.
Reddit is also poised to announce its initial public offering within the coming weeks, and it’s likely making this change as part of its effort to boost its valuation, which sat at more than $10 billion in 2021.
The original article contains 308 words, the summary contains 152 words. Saved 51%. I’m a bot and I’m open source!
Lol they are getting fleeced. Altman was a big stock holder so you know openai had had everything they want
