Shares of BuzzFeed (NASDAQ: BZFD) have soared more than 30% in pre-market trading on Friday after the Wall Street Journal reported that the Internet media company had entered into a deal with ChatGPT owner, OpenAI. As a part of this deal, BuzzFeed will be looking at AI to “enhance its quizzes” and personalize its content for its audiences.
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This news came after a recent report of BZFD entering into a deal with Meta Platforms (META).
Shares of BZFD have more than doubled since the news of both these deals.
In a memo accessed by WSJ, BuzzFeed’s CEO Jonah Peretti commented that over the next 15 years, he expects AI to help “create, personalize, and animate the content itself” rather than curating content.
Even as BZFD stock has soared in the past two days, it has not fared well in the past year, tanking more than 45%.
