(Finance) – The shares of buzz feed I am rallying on Wall Street after rumors that the company will use artificial intelligence to personalize and improve its quizzes and online content, hours away from other news reports talking about how Meta Platforms is paying BuzzFeed millions of dollars to bring more creators on Facebook and Instagram.
According to the Wall Street Journal, the company will use Chat GPT for his contents. It is a chatbot based on artificial intelligence and machine learning, specialized in conversation with a human user. A few days ago Microsoft extended the long-term partnership with OpenAI, the company behind ChatGPT, through “a multi-year, multi-billion dollar investment.”
“In 2023, you will see AI-inspired content transition from a research and development phase to a part of our core businessenhancing the quiz experience, informing our brainstorming and personalizing our content for our audiences,” CEO Jonah Peretti wrote in a memo to employees, Reuters reported.
Meanwhile, buzz feed stands at $2.50, with a 163% increase. Despite the maxi-jump, the stock remains a long way from the 10-dollar SPAC with which it arrived on Wall Street, also representing the first major modern digital media company to land on the stock exchange. In December 2022 BuzzFeed announced the cut 12% of its workforce.