OpenAI’s ChatGPT is shaking up the edtech markets

Shares of edtech company Chegg fell off a cliff this week after the company reported Q1 results that bested analyst expectations.
But Q1’s results aren’t what made the company lose nearly half of its value. In its earnings call the company’s executives noted that ChatGPT was slowing its ability to add new subscribers, not only potentially slowing its growth but also throwing uncertainty into its ability to predict its future financial results.
It’s an especially tense admission of competition, given that Chegg just announced last month that it is building a chatbot with GPT-4, even quoting Ope

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