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BuzzFeed Shares Surge 120% on Plans to Embrace OpenAI

  • AI-inspired content to become part of core business this year
  • Move comes amid debate about role of AI in the workplace
BuzzFeed Tumbles In Turbulent Debut For Digital Media
Photographer: Tiffany Hagler-Geard/Bloomberg
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BuzzFeed Inc. shares surged by a record on news that the digital-media company plans to use OpenAI to bolster some of its content creation.

The stock rose by 120% Thursday, bringing BuzzFeed’s market value to nearly $300 million, in its biggest gain since going public via a blank-check merger in December 2021. The news sparked a trading frenzy with more than 190 million shares changing hands.