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Get in Touch Before it's here, it's on the Bloomberg Terminal LEARN MORE By Amy Or February 16, 2024 at 5:28 PM EST Save Reddit Inc. has signed a contract allowing a company to train its artificial intelligence models on the social media platform's content, according to people familiar with the matter, as it nears the potential launch of its long-awaited initial public offering. The San Francisco-based firm told prospective investors in its IPO that it had signed the deal, worth about $60 million on an annualized basis, earlier this year, the people said. Reddit's agreement with an unnamed large AI company could be a model for future contracts of a similar nature, one of the people said. Have a confidential tip for our reporters? Get in Touch Before it's here, it's on the Bloomberg Terminal LEARN MORE Terms of Service Trademarks Privacy Policy (c)2024 Bloomberg L.P. All Rights Reserved Careers Made in NYC Advertise Ad Choices Help