Reddit has signed an agreement with Google to provide its content for training the tech giant’s artificial intelligence models. This was reported by Reuters, citing informed sources.

According to one of the agency’s interlocutors, the contract with Google, owned by Alphabet, is worth about $60 million a year.

As it is known, Reddit is preparing for an IPO. And the deal with Google reflects its desire to generate new revenue amid fierce competition from services such as TikTok and Facebook.

Bloomberg recently reported on this deal. It said that Reddit has signed an agreement that allows the use of user content on the platform to train an AI model.

However, the company with which the contract was signed was not named at the time. A person familiar with the deal said that Reddit may participate in more such deals in the future.