The AI-driven news platform Artifact, which was co-founded by the developers of Instagram, has been acquired by Yahoo, an American web service provider.
Under the terms of the deal, Yahoo will include Artifact’s cutting-edge technology into its full suite of web and news services across the United States of America and beyond.
As Yahoo integrates Artifact’s AI personalization technology and other features into products, notably Yahoo News, in the upcoming months, the app will no longer function as a stand-alone offering.
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The deal highlights the continued difficulties media businesses confront in making money, especially in light of the dominance of advertising sales by digital behemoths like Meta Platforms and Alphabet.
“AI has allowed us to give users a better experience discovering great content they care about,” Artifact CEO Systrom said in a press release. “Yahoo recognizes that opportunity, and we could not be more excited to see what we’ve built live on through Yahoo News.”
Recall that Yahoo acquired Summly, an app that utilized AI to summarize news, more than ten years ago. However, the company shut down Summly and integrated the technology into other companies.
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