this post was submitted on 20 Feb 2024
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This is the best summary I could come up with:
On Friday, Bloomberg reported that Reddit has signed a contract allowing an unnamed AI company to train its models on the site's content, according to people familiar with the matter.
The move comes as the social media platform nears the introduction of its initial public offering (IPO), which could happen as soon as next month.
Reddit initially revealed the deal, which is reported to be worth $60 million a year, earlier in 2024 to potential investors of an anticipated IPO, Bloomberg said.
In April 2023, Reddit founder and CEO Steve Huffman told The New York Times that it planned to charge AI companies for access to its almost two decades' worth of human-generated content.
If the reported $60 million/year deal goes through, it's quite possible that if you've ever posted on Reddit, some of that material may be used to train the next generation of AI models that create text, still pictures, and video.
Even without the deal, experts have discovered in the past that Reddit has been a key source of training data for large language models and AI image generators.
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