Shares of BuzzFeed Inc. (BZFD ) most recently more than doubled on Thursday after The Wall Street Journal reported that the media company intends to use artificial intelligence to help create content.
The Wall Street Journal reported that BuzzFeed CEO Jonah Peretti wrote in an internal memo to employees that the company would use ChatGPT developer OpenAI to enhance its quizzes and personalize some reader-facing content.
The Wall Street Journal also reported Wednesday night that Meta Platforms Inc. (META) will pay BuzzFeed millions of dollars to create content for Facebook and Instagram.
Shares of BuzzFeed were last up about 170% after the report, to around $2.57. Shares of BuzzFeed are on track for their highest daily trading volume ever, according to FactSet.
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