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Steve Huffman, cofounder and CEO of Reddit (Frederic J. Brown/Getty Images)

Reddit soars after suing Anthropic, alleging it trained AI on personal user data without permission

While other AI companies have played by the rules, Reddit says Anthropic has officially crossed the line.

Nia Warfield

Reddit shares popped nearly 8% Tuesday afternoon after the social media platform filed a lawsuit against AI startup Anthropic. In the suit, Reddit alleges Anthropic engaged in “unlawful and unfair business acts” by using its data without permission.

Reddit alleges that Anthropic, in particular, has been using personal information from its users to train AI models.

The lawsuit, filed in San Francisco, says that other AI giants have respected the platform’s rules, which is why Reddit has entered formal licensing partnerships with companies like OpenAI and Google. Reddit has become a key player in the generative-AI boom, thanks to its massive archive of user-generated content that’s become prime training material for AI models like Anthropic’s Claude.

“While Reddit has always been of the mind that the community should be open to all humans looking for connection and community, it has never allowed its platform and the countless communities who find a home on it to be appropriated by commercial actors seeking to create billion-dollar enterprises and offering nothing in return to Reddit and its users,” the lawsuit states.

Reddit said it’s seeking damages and aims to compel Anthropic to comply with its contractual and legal obligations. Reddit shares are down about 28% year to date, but have more than doubled over the past year.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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