Shares Plummet as Duolingo Suffers Blow from OpenAI’s GPT-4o Announcement

MetaversePlanet May 20, 2024Last Updated: May 20, 2024

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OpenAI’s “GPT-4o” model, which can translate in real time, has significantly impacted the popular language learning platform Duolingo. Shares officially crashed following OpenAI’s announcement.

OpenAI, one of the leading names in the world of artificial intelligence, unveiled its new AI model, “GPT-4o,” at an event last night. This model can see, hear, and speak like a real human and also has real-time translation capabilities.

OpenAI’s announcement dealt a severe blow to Duolingo, one of the world’s most popular language learning platforms. Many people felt that such platforms were no longer necessary, causing Duolingo’s shares to plummet. Duolingo shares, which were trading at around $250 just a few days ago, fell to $177 following last night’s announcement.

Duolingo (DUOL) stock chart was as follows:

Shares Plummet as Duolingo Suffers Blow from OpenAI's GPT-4o Announcement

In our latest checks on TradingView, we see that the stocks have started to show signs of recovery, albeit slightly. However, we will see whether this situation is permanent with the opening of the markets.

GPT-4o does an impressive job with real-time translation. However, it’s important to remember that Duolingo is one of the best in the industry. The company may find a way to circumvent the threat posed by ChatGPT, but it seems that lesser-known platforms will no longer be able to compete with artificial intelligence.