BuzzFeed shares jump 150% on plans to use OpenAI for content

In a move that sent shares soaring, BuzzFeed announced on Thursday that it plans to use AI-powered technology to create content. The company’s shares jumped a staggering 150% on the news, as investors and industry experts took note of the potential for this cutting-edge technology to revolutionize the way content is produced.

“In 2023, you’ll see AI-inspired content move from an R&D stage to part of our core business,” said BuzzFeed CEO Jonah Peretti in a statement. The company plans to use OpenAI’s publicly available API (application programming interface) to develop its AI-powered content, specifically using ChatGPT, the powerful language model created by OpenAI.

This move is a significant step forward for BuzzFeed, as it looks to stay ahead of the curve in the highly competitive digital media landscape. By using AI-powered technology, BuzzFeed hopes to be able to create and produce content at a faster pace and with greater efficiency than ever before.

The use of AI-powered content also has the potential to open up new revenue streams for the company. By automating the process of creating content, BuzzFeed could potentially scale up its operations and reach new audiences, all while keeping costs low.

The use of ChatGPT, which is capable of understanding and responding to natural language, could also open up new opportunities for personalized content. This could allow BuzzFeed to create content tailored to specific audiences and demographics, further increasing the company’s reach and revenue potential.

This announcement is also a significant win for OpenAI, as it continues to establish itself as a leading player in the field of AI and language processing. The use of ChatGPT by a major media company like BuzzFeed is a testament to the power and versatility of the technology and could pave the way for more partnerships between OpenAI and other companies in the future.

BuzzFeed’s announcement to use OpenAI’s technology is a bold move that could pay off big for the company. As more and more companies look to incorporate AI-powered technology into their operations, BuzzFeed’s decision to lead the charge could position it as a trailblazer in the industry. Only time will tell how this move will pan out, but one thing is for certain, it has definitely caught the attention of the industry and investors.

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