Reddit stock jumps after OpenAI partnership

Reddit's stock surged 13% following a new partnership with AI firm OpenAI, anticipated to significantly boost its advertising revenue. The collaboration, which incorporates OpenAI’s ChatGPT to enhance Reddit's content integration and advertising capabilities, could potentially add $50-60 million annually to Reddit's income. This strategic move aligns with Reddit's broader goals to expand monetization avenues beyond traditional advertising, as outlined in their recent IPO.