Tech
tech
Rani Molla

Chegg sues Google over its decline

ChatGPT grievously wounded Chegg, but the education tech company also thinks Google Search’s AI summaries are to blame for kneecapping its traffic and revenue. On Monday, Chegg filed suit in federal district court against Google.

During an earnings call yesterday, the company said it was considering strategic alternatives like going private, thanks in part to Google’s behavior.

According to President and CEO Nathan Schultz:

Chegg has a superior product for education, as evident by our brand awareness, engagement, and retention. Unfortunately, traffic is being blocked from ever coming to Chegg because of Googles AIO and their use of Cheggs content to keep visitors on their own platform.

The stock is down nearly 24% premarket and is trading at about $1.19.

According to President and CEO Nathan Schultz:

Chegg has a superior product for education, as evident by our brand awareness, engagement, and retention. Unfortunately, traffic is being blocked from ever coming to Chegg because of Googles AIO and their use of Cheggs content to keep visitors on their own platform.

The stock is down nearly 24% premarket and is trading at about $1.19.

More Tech

See all Tech
tech

Palantir announces slew of defense- and security-themed partnerships

Defense, intelligence, and AI software company Palantir Technologies announced a series of security-themed partnerships Thursday, ahead of its annual conference promoting its artificial intelligence software platform (AIP).

Shares were recently up 1.7%, stretching the stock’s gains over the past month to 19%.

The deals include partnerships with uranium enrichment company Centrus Energy, jet engine maker GE Aerospace, unmanned aerial vehicle maker Ondas, and privately held World View, which sells intelligence and surveillance balloons that operate in the upper atmosphere.

Separately, it also announced a new “sovereign AI OS reference architecture,” a collaboration Palantir says “delivers customers a turnkey AI data center from hardware procurement to application deployment.”

Reference architectures are effectively blueprints that tell organizations how to set up and use AI hardware and software systems.

Known as the Palantir OS Reference Architecture, it’s based on similar AI blueprints Nvidia already sells, and it will enable customers to use Palantir’s entire product set, including the AIP and Foundry, its data organization and management product.

The deals include partnerships with uranium enrichment company Centrus Energy, jet engine maker GE Aerospace, unmanned aerial vehicle maker Ondas, and privately held World View, which sells intelligence and surveillance balloons that operate in the upper atmosphere.

Separately, it also announced a new “sovereign AI OS reference architecture,” a collaboration Palantir says “delivers customers a turnkey AI data center from hardware procurement to application deployment.”

Reference architectures are effectively blueprints that tell organizations how to set up and use AI hardware and software systems.

Known as the Palantir OS Reference Architecture, it’s based on similar AI blueprints Nvidia already sells, and it will enable customers to use Palantir’s entire product set, including the AIP and Foundry, its data organization and management product.

tech

Tesla’s China sales jump as EV market slumps

Tesla’s China sales grew 43% to 38,206 vehicles in February, compared a low baseline a year earlier.

Still, thanks to strong sales of its Model Y, Tesla defied countrywide trends — overall China EV sales fell 35% last month.

As a result, Tesla’s market share in China, its second-biggest market, grew to nearly 14% — its highest level in nearly two years.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.