Reddit Stock Soars 14% After OpenAI Partnership Boosts User Experience and Ad Revenue
May 19, 2024
Reddit's partnership with OpenAI has led to a 14% increase in the platform's stock price, reaching $64.25.
By integrating OpenAI's technology into their forums, Reddit aims to enhance user experience and attract more advertising revenue.
The collaboration includes content integration into ChatGPT and other AI products, demonstrating Reddit's commitment to innovation and user engagement through artificial intelligence.
This strategic move, along with alliances with Microsoft Corp., positions Reddit as a leader in AI development within the social media landscape.
Summary based on 3 sources
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Sources

Telegraph India • May 18, 2024
OpenAI inks deal to train artificial intelligence systems on Reddit posts
The Business Standard • May 18, 2024
Reddit stock jumps after OpenAI partnership