Chegg

Chegg Inc. is weighing strategic alternatives for its business, saying that traffic to its web-based education platform has been decimated following Google’s launch of an artificial intelligence-powered summary tool.

The company, which offers online homework help, has also filed a lawsuit against the search engine and its parent Alphabet Inc. over what it says is unfair competition caused by the Google AI Overviews product.

“These two actions are connected, as we would not need to review strategic alternatives if Google hadn’t launched AI Overviews,” Chief Executive Officer Nathan Schultz said on Monday.

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