(Bloomberg) — OpenAI has already proved it has a golden touch when it comes to partnering with other tech firms to deploy its artificial intelligence products. Its power to move shares, though, is rapidly spreading to companies it even briefly discusses teaming up with.<\/p>\n
The company behind ChatGPT held its annual developers event Monday, and mere mentions of other publicly traded firms by presenters sent those shares soaring. Among notable movers: Figma Inc. climbed 7.4%, HubSpot Inc. added 2.6% and Salesforce Inc. gained 2.3%. Online travel companies also saw brief pops, with Expedia Group, Inc. and TripAdvisor Inc. both advancing at least 7% before paring those gains. Even shares of toymaker Mattel Inc. jumped nearly 6%, though it closed essentially flat.<\/p>\n
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Most were named as partners whose apps are being incorporated into ChatGPT, the AI bot that counts some 800 million weekly users. While those integrations fall well short of the deal Advanced Micro Devices, Inc. and OpenAI disclosed Monday, that pact served to show retail and momentum traders just how influential such a move can be: AMD shares soared 24%, adding $63 billion in market value. <\/p>\n
\u201cThis is a momentum market, where anything related to OpenAI moves stocks and people throw fundamentals out the window,\u201d said Joe Saluzzi, a partner at Themis Trading.<\/p>\n
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Others were more positive on the event\u2019s implications. Bloomberg Intelligence\u2019s Anurag Rana wrote that it was \u201chighlighting new potential use cases and even helping these software providers attract new users,\u201d and that expanded partnerships between OpenAI and other enterprises could help soothe \u201cfears of a big disruption to the software industry.\u201d<\/p>\n
Monday\u2019s moves were reminiscent of those seen by stocks of companies mentioned by Nvidia Corp. Chief Executive Officer Jensen Huang at its GTC conference last year. Shares of engineering software makers Synopsys Inc., Cadence Design Systems Inc. and Ansys Inc. climbed after Huang said the companies will use its new Blackwell-based processors to put more AI enhancements in their products.<\/p>\n
OpenAI recently completed a deal to help employees sell shares, which resulted in a $500 billion valuation for the company, making it the world\u2019s largest startup. That valuation, coupled with the scale of AI-related moves, has led to growing concerns that the growth and stock moves are unsustainable. Talk of an AI bubble has been growing louder in recent months, with some investors likening such trading to the dot-com euphoria.<\/p>\n
\u201cObviously we don\u2019t know the revenue implications of anything being mentioned by OpenAI, but while these kinds of moves can be a concern, there is a lot of money being made and spent on AI,\u201d Saluzzi said. \u201cWe\u2019re not talking about Pets.com. Everyone realizes we\u2019re in a bubble stage. The problem is no one knows if we\u2019re at the beginning or near the end.\u201d<\/p>\n
Sam Altman, OpenAI\u2019s chief executive officer, was asked about the company\u2019s influence on other stock moves today during a press conference at the event.<\/p>\n
It\u2019s \u201ca strange new thing that started happening,\u201d he said. \u201cWe are trying to figure out how to adjust for this kind of world, but it\u2019s weird.\u201d<\/p>\n
–With assistance from Shirin Ghaffary.<\/p>\n
(Updates to market close, adds comments from Bloomberg Intelligence and Sam Altman.)<\/p>\n
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\u00a92025 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"(Bloomberg) — OpenAI has already proved it has a golden touch when it comes to partnering with other…\n","protected":false},"author":2,"featured_media":105818,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[261],"tags":[8091,291,289,290,4932,18,66370,66372,19,1297,17,307,82,66371],"class_list":{"0":"post-105817","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-advanced-micro-devices","9":"tag-ai","10":"tag-artificial-intelligence","11":"tag-artificialintelligence","12":"tag-bloomberg","13":"tag-eire","14":"tag-expedia-group","15":"tag-hubspot-inc","16":"tag-ie","17":"tag-inc","18":"tag-ireland","19":"tag-openai","20":"tag-technology","21":"tag-tripadvisor-inc"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/105817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=105817"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/105817\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/105818"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=105817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=105817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=105817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}