Reddit publicly disclosed on Tuesday that it has been accused of patent infringement by multinational telecommunications company, Nokia Corp. (NOK). In response, Reddit has refuted the claims, stating that these accusations are likely a result of its growing profile and competition, which naturally attracts more intellectual property disputes.
This announcement came in the wake of an ongoing investigation by the Federal Trade Commission into Reddit's practices. The investigation particularly scrutinizes Reddit's handling of user-generated material, specifically its sale, licensing, and sharing with third-party entities for the training of artificial intelligence models.
In the meantime, Nokia saw a slight rise in its stock by 0.97 percent, reaching a value of $3.51 in the New York Stock Exchange.
