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Reddit signs content licensing deal with AI company ahead of IPO, Bloomberg reports

Reddit has signed a contract allowing an Artificial Intelligence (AI) company to train its models on the social media platform's content, Bloomberg News reported, citing people familiar with the matter.

Reddit, which is eyeing an initial public offering (IPO) launch, has told prospective investors that it signed the deal, worth $60 million on an annualized basis, earlier this year, the report said.