BuzzFeed Listicles, Quizzes To Soon Be Enhanced By AI From ChatGPT Parent

Buzzfeed Inc BUZFD, whose shares were on the rise Thursday after it forged a deal with Facebook parent Meta Platforms Inc META, has plans to use OpenAI’s artificial intelligence to enhance its content.

What Happened: The internet media and news company told Benzinga in an email, “we are not using ChatGPT - we are using OpenAI's publicly available API (application programming interface)."

A BuzzFeed spokesperson shared an internal memo from CEO Jonah Peretti, in which he laid out his vision of an AI-aided strategy.
"If the past 15 years of the internet have been defined by algorithmic feeds that curate and recommend content, the next 15 years will be defined by AI and data helping create, personalize, and animate the content itself. Our industry will expand beyond AI-powered curation [feeds], to AI-powered creation [content], " Peretti said in the memo.
"Our teams at BuzzFeed, Complex Networks, Tasty, HuffPost and BuzzFeed News will serve as the braintrust, innovating new models, creating new formats, and developing new production models to help creative people reach more people and have a bigger impact."

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Why It Matters: Separately, it was reported that Mark Zuckerberg-led Meta paid Buzzfeed millions of dollars to lure creators to the former’s platforms. 

This was a part of a $10 million deal the two companies reached last year. Under the agreement, BuzzFeed agreed to help generate creator content for Meta’s platforms and train creators to grow their online presence.

Notably, in recent years creators have been making a beeline for rival TikTok, owned by the China-based ByteDance.

Price Action: On Thursday, Buzzfeed shares closed 120% higher at $2.09 and rose 7.7% to $2.25 in extended trading, according to Benzinga Pro data.

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