Comcast takes advantage of AI rally to sell more BuzzFeed shares

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Reuters UK

(Reuters) -Comcast Corp has cut its stake in BuzzFeed Inc by 8.5% since the end of January, cashing in on a rally in the shares of the digital media company on reports of a plan to partner with OpenAI, the artificial intelligence firm behind ChatGPT. It has so far sold more than 11 million BuzzFeed shares since Jan. 30, reducing its stake to 15.5% from 24%. The sale fetched Comcast about $28 million, according to a Reuters calculation. It sold roughly four million shares for an average price of around $2.90 apiece at the end of January, and most recently dumped another 500,000 shares for an av…

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