Specifically, the 18-year-old company reported a sales drop of seven percent over one year as well as a five percent fall in subscribers News 

Chegg and Pearson Stocks Crash as AI-powered Chatbots Like ChatGPT Grow

Shares in companies that specialize in publishing school textbooks and offering online classes took a big hit on Tuesday amid signs that AI bots like ChatGPT are eating into their business. Silicon Valley-based Chegg, an education technology company that offers online homework help and textbooks, had its CEO admit Monday that the explosion of generative AI chatbots had hurt revenue. “In the first half of the year, we didn’t see a noticeable impact on our new account growth with ChatGPT and we met expectations for new signups,” Chegg CEO Dan…

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