Online music and podcast platform Spotify (NYSE:SPOT) has tied up with Google (NASDAQ:GOOG) (NASDAQ:GOOGL) and Magnite (NASDAQ:MGNI) for a programmatic ads partnership for advertisers to buy ads on the platform "in the way that works best for them."

In a push to gain a larger share of the ad market, the company introduced a new "Spotify Ads Exchange" (SAX) and announced the launch of new AI tools for creating ads at a New York event Wednesday.

Google and Magnite will benefit from the revamped ad exchange, along with The Trade Desk (NASDAQ:TTD), which already has access to it. Trade Desk helped Spotify build its ad exchange late last year.

Spotify is also eyeing partnerships with Yahoo DSP and Adform, with "many more to come soon." The ad partners will have access to audio, video, and display formats across music, with podcasts coming soon, the company said.

SAX is currently available in the U.S., Canada, Europe, Australia, New Zealand, India, Singapore, Brazil, and Mexico.

In addition to SAX, the company launched "Spotify Gen AI Ads" to cash in on the growing hype surrounding artificial intelligence.

"We’re bringing our decades-long AI expertise and innovative approach to our advertising partners to enable them to create scripts and voiceovers at no additional cost, making it easier than ever to create high-quality, scalable audio ads," the company said. 

Gen AI Ads are available in the U.S. and Canada through the Spotify Ads Manager.