Yahoo acquires Instagram co-founders' AI news platform Artifact

FILE PHOTO: A Yahoo logo is seen during the Cannes Lions International Festival of Creativity in Cannes, France, June 19, 2023. REUTERS/Eric Gaillard/File Photo

(Reuters) - Yahoo said on Tuesday it had acquired Instagram co-founders' AI-driven news platform, Artifact, and will incorporate its technology across the U.S. web services provider's news and other sites.

The deal signals continued pain for media start-ups struggling to grow revenue at a time when Big Tech giants Alphabet and Meta Platforms attract the bulk of advertising sales.