The post Reddit Shares Soar on News of OpenAI Data-Sharing Partnership appeared on BitcoinEthereumNews.com.

Reddit shares investors have been left ablaze after Reddit stocks rose by 11% in after-hours trading following its data-sharing partnership with Open AI Despite the legal hiccup on AI firms, Reddit seems focused on using AI to boost user engagement in the platform Reddit stocks surged following the announcement of the trailblazing data-sharing partnership with Open AI. This strategic partnership leaves both parties at a profitable juncture. While Open AI will showcase and gain access to Reddit information for better understanding, Reddit will get a series of AI-powered features for better and larger user engagement. Reddit, the gigantic social news website will provide Open AI with access to its data application programming interface (API) including all content created in real time on the platform. This collaboration means that Open AI will gain access to Reddit’s information and data improving Open AI’s models with varied information. Reciprocally, Open AI will offer Reddit users and developers a variety of AI-driven features aimed at increasing user engagement. This change is expected to change the user engagement experience on the platform, meaning better content recommendations, custom experiences, and even AI-generated developer tools. This signifies a larger and stronger Reddit community. Reddit and OpenAI today announced a partnership to benefit both the Reddit and OpenAI user communities in a number of ways. Learn more on our corporate blog. https://t.co/qah9TaRjVU — Reddit (@Reddit) May 16, 2024 Additionally, The social news network has named Open AI as its number 1 advertising partner implying further future collaboration. According to Google Finance, on May 15th this development left Reddit stocks surging up by 11% which had earlier declined by 5.54% during the day to surging by $62.61 in after-hours trading. This sudden uptick indicated investor confidence in the partnership. The collaboration comes after the social news platform is actively…

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Filed under: News - @ May 19, 2024 4:14 pm