shares of Reddit, set to begin trading here at any moment for today's tech check,

Deirdreboza, taking a closer look at the company's AI training and licensing potential.

D.

Potential is the right word.

And no surprise, AI, this was a big part of the pitch to investors in its

S1 and on its road show over the last few weeks but Reddit itself is not an AI company it simply

has the data that AI companies may want and may want to pay for.

Its recent deal to license that data to Google is exciting to investors because it represents

a new revenue stream for a company almost entirely reliant on advertising

and competing with much bigger platforms.

At $66 million, that deal amounts to about 6% or 7% of expected sales this year. A few more of those with

say open AI, Anthropic, or any number of startups that are building large

language models and that could be a meaningful mix shift. Here is CEO and

co-founder Steve Huffman this morning on the

opportunity.

Now historically we've looked at Reddit as our core business and look this is

still our core business community and conversation

but the value of our data is growing in a world where more and more content in the

internet is created by artificial intelligence.

The premium on actual intelligence,

which is what Reddit is, continues to grow.

But as we say so often, we are still very early

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