Sam Altman's OpenAI signs content agreement with News Corp

FILE PHOTO: OpenAI logo is seen in this illustration taken May 20, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Sam Altman-led OpenAI has signed a deal that will give it access to content from some of the biggest news publications owned by media conglomerate News Corp, the companies said on Wednesday.

The deal comes weeks after the Microsoft-backed AI giant clinched an agreement to license content from the Financial Times for the development of AI models.

Access to troves of data can help enhance content produced by OpenAI's ChatGPT, the chatbot that can generate human-like responses to prompts and create summaries of long text.

Such partnerships are also crucial for the training of AI models and can be lucrative for news publishers, which have traditionally been denied a slice of profits internet giants earn for distributing their content.

OpenAI, which kickstarted the AI frenzy when it launched its chatbot in 2022, had also struck a content deal with social media platform Reddit last week.

OpenAI did not disclose the financial details of its latest deal, but the Wall Street Journal, which is owned by News Corp, reported that it could be worth more than $250 million over five years.

The tie-up also includes a guarantee that the content will not become available on ChatGPT immediately after it is published on one of the news websites, the WSJ report said.

The agreement will give OpenAI access to current and archived content from several News Corp publications, including the Wall Street Journal, MarketWatch, the Times and others.

News Corp shares climbed about 4% after the bell.

(Reporting by Niket Nishant in Bengaluru; Editing by Arun Koyyur)

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