ChatGPT artificial intelligence claims its first victims on the stock market

2023-05-05 20:11:50

By Claudia Cohen

Published
on 05/04/2023 at 6:22 p.m.
,
Update yesterday at 8:11 p.m.

This is the first real time that a company has presented ChatGPT as a competitor capable of amputating its growth. Andrey Popov – stock.adobe.com

DECRYPTION – For the first time, an edtech company presented the chatbot as a competitor to its services.

One unfortunate little sentence, and your stock price plummets… At the beginning of May, the director of the Californian edtech company Chegg has reason to regret his words. During the presentation of its quarterly results on the night of Tuesday to Wednesday, Dan Rosensweig explained that the company specializing in digital services related to education had “noted since March a significant breakthrough in student interest in ChatGPT». “We now believe this is impacting our pace of new customer acquisition”, he specified in front of an audience of analysts to justify the bad patch crossed by the company. Over the first three months of the year, in fact, the number of subscribers to its services fell by 5%, to 5.1 million, while its turnover fell by 7%, to 187 million. of dollars. After the words of Dan Rosensweig, it only took a few minutes for investors to desert the stock on Wall…

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