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Last month, Buzzfeed announced plans to cut its workforce by 12% in an effort to rein in costs as the company’s stock value continued its downward spiral since going public in 2021.
But a newly revealed partnership that will bring a very smart, albeit inanimate, content creator into the fold, has sent Buzzfeed’s stock on a tear, with the share price up over 300% in the last two days.
On Thursday, the website, best known for its listicles and quizzes, announced plans to adopt artificial intelligence technology developed by ChatGPT creator OpenAI to enhance both content and user experience, according to a memo to Buzzfeed employees from company CEO Jonah Peretti.