BuzzFeed’s stock more than doubled Jan. 26 after announcements it will aid Meta in content creation and begin using artificial intelligence in its quizzes and other articles. Buzzfeed shares opened today (Jan. 27) at $2.90, up from $1.30 yesterday.
The stock has steadily dropped since BuzzFeed went public in December 2021, having lost 80 percent of its value since trading began. On Jan. 26, the stock price increased 125 percent, representing the biggest percentage increase the stock has seen to date.
The appreciation followed reports BuzzFeed would rely on ChatGPT creator OpenAI to assist in creating personality quizzes and other content for the site. For example, AI-powered quizzes could provide users with a personalized romantic comedy movie pitch based on their answers to questions like “pick a trope for your rom-com,” and “tell us an endearing flaw you have,” according to the Wall Street Journal. BuzzFeed will continue producing human-generated journalism in its newsroom, the Journal reported.
The stock surge also follows reports Meta is paying BuzzFeed $10 million to generate content for Facebook and Instagram and train creators to build followings.