Edtech Chegg slumps on revenue warning as ChatGPT threatens growth

What’s the cost of students using ChatGPT for homework? For US education services provider Chegg Inc, it could be nearly $1 billion in market valuation.

Chegg forecast current-quarter revenue below estimates and signaled that the usage of viral chatbot ChatGPT was pressuring customer growth, sending its shares 44% lower in premarket trading on Tuesday.