FiscalNote (NYSE:NOTE) stock is on the move Friday after OpenAI picked it as a “trusted partner” for ChatGPT.
That announcement means that FiscalNote will be providing data to OpenAI to enhance ChatGPT. This makes it one of 14 trusted partners that are collaborating with OpenAI to improve ChatGPT.
In FiscalNote’s case, it will offer up information on political, legal, and regulatory topics to the artificial intelligence (AI). The company also notes that it’s the sole provider of this type of information to ChatGPT.
Dr. Vlad Eidelman, Chief Scientist and Chief Technology Officer at FiscalNote, said the following about the news:
“We see the huge potential for incorporating generative AI in aspects of how political and regulatory analysis is consumed, and we’re excited about this special opportunity to power new types of interactions with our political data.”
How This Affects NOTE Stock
Considering the surge of interest from investors concerning AI stocks, it would make sense that this deal would be good for NOTE shares. Especially as it’s tied to ChatGPT, which is the AI that helped kick off the stock rally in this sector.
However, today’s news also brings with it heavy trading of NOTE stock as investors sell their shares. As of this writing, more than 3.8 million shares of the stock have changed hands. That’s a massive surge compared to its daily average trading volume of about 1 million shares.
NOTE stock is down 18.5% as of Friday morning.
There’s more stock market news traders need to know about today below!
We’ve got all of the most recent stock market coverage for traders to read about on Friday! Among that is what has shares of Block (NASDAQ:SQ) and Deutsche Bank (NYSE:DB) stock on the move today. You can learn more about these matters at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.