BuzzFeed’s stock soars another 73% as analysts weigh in on AI shift … – MarketWatch
BuzzFeed Inc.’s stock soared another 73% on Friday to put it on track for a weekly gain of 283%, as analysts weighed in on news relating to a partnership with Facebook and artificial-intelligence initiatives with some bullish comments.
The Wall Street Journal reported on Thursday that BuzzFeed BZFD, +74.16% is planning to leverage ChatGPT and AI to enhance its quizzes and add other personalized content, citing a memo from publisher Jonah Peretti.
Separately, the paper reported that Meta Platforms Inc. META, 3.62% has expanded its partnership with the news site to drive more creators to its platform in a deal valued at close to $10 million.
“We appreciate the strategic rationale for this enhanced relationship given Buzzfeed’s history of creating ‘viral content’ at a time when the competitive environment is intensifying (e.g. TikTok),” wrote Bank of America analysts led by Brent Navon in a note to clients. ” We view this as a validator of BZFD’s platform as it represents a clear ‘…
The post BuzzFeed’s stock soars another 73% as analysts weigh in on AI shift … – MarketWatch first appeared on SEO, Marketing and Social News | OneSEOCompany.com.
source: https://news.oneseocompany.com/2023/01/27/buzzfeeds-stock-soars-another-73-as-analysts-weigh-in-on-ai-shift-marketwatch_2023012739809.html
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.