Shares of BuzzFeed rose significantly after CEO Jonah Peretti announced the business would employ the ChatGPT and DALL-E maker OpenAI’s application programming interface to tailor quizzes for users.
The closing price for BZFD shares was $2.09, with after-hours trading driving the price higher. The stock had previously closed at $0.95.
the “AI inspired content” would leave the research and development phase and become “part of our core business beginning next month.”
According to a business representative, BuzzFeed will not be using OpenAI’s API to produce news pieces.
Shares of the $132 million firm, which were reverse merged with a special purpose acquisition company in December 2021, had fallen more than 90%.