🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Stocks

OpenAI signs content deal with Condé Nast

Published 08/20/2024, 02:20 PM
Updated 08/20/2024, 03:21 PM
© Reuters. FILE PHOTO: OpenAI logo is seen in this illustration taken May 20, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Sam Altman-led OpenAI on Tuesday announced a multi-year partnership with Condé Nast to display content from its brands such as the Vogue and the New Yorker within the AI startup's products, including ChatGPT and SearchGPT prototype.

Financial terms of the deal were not disclosed.

OpenAI has signed similar deals with the Time magazine, Financial Times, Business Insider-owner Axel Springer, France's Le Monde and Spain's Prisa Media over the past few months.

While these content partnerships are essential for training artificial intelligence models, some media organizations such as the New York Times and the Intercept had sued the Microsoft-backed firm over copyright issues associated with their works.

Brad Lightcap, chief operating officer at OpenAI, said the company is committed to working with Condé Nast and other news publishers to "ensure that as AI plays a larger role in news discovery and delivery, it maintains accuracy, integrity and respect for quality reporting".

News and digital media have faced steep challenges over the last decade as many technology companies eroded publishers' ability to monetize content, Roger Lynch, CEO of Condé Nast, said in a memo to employees.

"Our partnership with OpenAI begins to make up for some of that revenue," Lynch said.

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

OpenAI launched its AI-powered search engine SearchGPT in July, with real-time access to information from the internet, into a territory long dominated by Google (NASDAQ:GOOGL).

The company said on Tuesday it was collaborating with its news partners to collect feedback and insights on the design and performance of SearchGPT.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.