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Chegg Shares Decrease After Warning of ChatGPT Danger

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. Chegg Inc. is an American education services provider offering digital textbooks, homework help, and course-related materials to college and high school students. Dan Rosensweig has been at the company's helm since 2006 and is a former president of Yahoo!. The recent rise in ChatGPT's popularity has caused a drop in Chegg's stock price, leading to a $1 billion reduction in its market capitalization. In response, Chegg released its own AI-powered cheggmate to better manage the implications of homework-assistance chatbots. With analysts raising concerns about Chegg's core business becoming obsolete due to free AI tools, their stock has been downgraded.

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