(CNBC) Chegg shares tumbled after the online education company said ChatGPT is hurting its growth. “In the first part of the year, we saw no noticeable impact from ChatGPT on our new account growth and we were meeting expectations on new sign-ups,” CEO Dan Rosensweig said during the earnings call Monday evening. “However, since March we saw a significant spike in student interest in ChatGPT. We now believe it’s having an impact on our new customer growth rate.”
Chegg shares drop more than 40% after company says ChatGPT is killing its business
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