What's the cost of students using ChatGPT for homework? For U.S. education services provider Chegg Inc, it could be nearly $1 billion in market valuation.
"Since March, we saw a significant spike in student interest in ChatGPT. We now believe it's having an impact on our new customer growth rate," said Chegg CEO Dan Rosensweig. Last month, the Santa Clara, California-based firm said it would launch ChatGPT's AI powered CheggMate, a study aide tailored to students' needs, at a time educators were grappling with the consequences of the homework drafting chatbot.
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