Who’s the next Chegg? A.I. could threaten the main revenue sources for these companies

Tuesday's selloff in Chegg shares exposed some investors to the dark side of artificial intelligence, igniting concerns about how the latest technology craze may be putting some companies' revenue sources in danger. The latest tumult for the education technology stock kicked off Monday evening after management highlighted how ChatGPT is hindering its growth. Shares were last down more than 49%.

"AI could actually be a catalyst, but right now the Street's essentially on the fence in terms of who the winners and losers are outside of the big tech arm," said Wedbush Securities' Dan Ives. "This is all a fork-in-the-road period in terms of figuring out who the winners and losers are." Who's at risk from AI Firms like Atlassian and Gitlab may face some of the biggest threats ahead, given AI's ability to write software, said Baird's Ted Mortonson.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market News: Uber shares soar, Yellen warns on debt ceiling, IBM, Chegg CEOs talk AITreasury Secretary Janet Yellen warns on debt ceiling as the Federal Reserve begins its two-day meeting. JOLTS report kicks off jobs data. Uber, Pfizer, Starbucks earnings in focus. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Source: FoxBusiness - 🏆 458. / 53 Read more »

Stocks making the biggest moves midday: Uber, Chegg, Dell, PacWest, SoFi & moreThese are the stocks posting the largest moves in midday trading.
Source: CNBC - 🏆 12. / 72 Read more »