GoKawiilShares of Reddit slid 9% on Wednesday after the Wall Street Journal reported the company has discussed shutting off Google's access to its content for artificial intelligence use.
Reddit stock is down roughly 27% year-to-date.
The two companies struck a deal in 2024 to allow the search giant to train its AI models on Reddit's content. But as Google's AI summaries reduced traffic to websites from the search results page, Reddit is reconsidering the benefits of the deal, according to the Journal, citing people familiar with the matter.
The search traffic trend can be seen on other sites as well, with Politico's Google traffic falling 23%, CNN's falling about 25%, and Business Insider's dropping more than 85% between June 2025 and 2026, the Journal reported.
It's part of a patchwork of media and publishing companies that have reevaluated their relationships with the biggest AI giants, with some taking legal aim to protect their intellectual property as their sites have suffered lower search traffic.
Last year, Chegg sued Google in federal district court, claiming that its AI summaries of search results hurt the company's traffic and revenue.
In a statement to CNBC at the time, Google said the company "sends billions of clicks to sites across the web, and AI Overviews send traffic to a greater diversity of sites."
Google responded to the Wall Street Journal on Wednesday with a similar statement, saying that its AI features help creators and publishers grow their audiences.