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Briefing
ai

Chegg Shares Plunge 38% After ChatGPT Warning

By
Amir Efrati
· · Source: The Information

Online education firm Chegg told investors it believes OpenAI’s ChatGPT is “having an impact on our new customer growth rate” as student customers embraced the chatbot as a studying tool. In after-hours trading, Chegg shares fell 38%. It didn’t help that the firm reported a 7% decline in revenues year over year after reporting a 1% decline in the fourth quarter. Chegg, which had a market...

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