ChatGPT-connected companies like BuzzFeed see stock volume surges in enthusiasm over OpenAI

  • BuzzFeed, C3.ai, SoundHound AI and BigBear.ai have seen massive jumps in volume and dizzying swings in their share prices
  • Last week, Microsoft said it was investing US$10 billion in OpenAI and BuzzFeed announced plans to use its tech to help with content creation

The impressive results of ChatGPT, a chatbot from OpenAI, has prompted BuzzFeed to use it to help with content creation and Microsoft to invest further in the company. Photo: Tribune News Service
Companies tied to artificial intelligence (AI) services recorded some of their highest trading volumes on record this month, amid a frenzy of interest in the ChatGPT tool, which generates conversation-style interactions.

BuzzFeed, C3.ai, SoundHound AI and BigBear.ai Holdings are among the stocks that have all seen massive jumps in volume, along with dizzying swings in their share prices. BigBear.ai soared nearly 65 per cent on Monday, with trading volume that was more than 2,100 per cent of its daily volume over the past three months.

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