Sam Altman, CEO of OpenAI, is amongst Reddit's main shareholders | EUROtoday

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OpenAI CEO Sam Altman is one in all Reddit's largest shareholders, based on a regulatory submitting on the social information platform's plans for an IPO.

Altman-affiliated entities maintain 8.7% of Reddit's excellent shares, based on the S-1 submitting, made public on Thursday. That's 789,456 Class A shares and 11.4 million Class B shares. Reddit's largest shareholder is Advance Magazine Publishers Inc., a part of the Newhouse household's publishing empire, with a few third of the voting energy.

Altman has long-standing ties to the San Francisco social media firm. Altman and Reddit cofounders Steve Huffman and Alexis Ohanian have been a part of the Y Combinator accelerator's inaugural class in 2005. Altman additionally briefly served as the corporate's interim CEO after former CEO Yishan Wong resigned.

In the submitting Thursday, Reddit mentioned it plans to develop its enterprise partly by means of information licensing offers with AI corporations, in addition to working by itself AI merchandise. These licensing agreements will permit the corporate to make use of its content material property as a significant income generator. Reddit introduced a cope with Google on Thursday that included AI coaching, however didn’t announce a partnership with Altman's OpenAI.