OpenAI, which developed ChatGPT, has learned how to integrate other companies' applications into its chatbot. Shares of those companies, which OpenAI named as its partner at a forum for developers, rose in trading on Monday. As analysts note, a single mention next to OpenAI was enough to encourage investors to buy the securities.

Details

At the October 6 developer conference, OpenAI unveiled the Apps SDK tool that allows you to create custom apps inside ChatGPT that are accessible to other chatbot users. This developer kit is already available in a pre-release version.

OpenAI CEO Sam Altman demonstrated how a user can ask ChatGPT to use Figma - a collaborative design platform - to convert a sketch created inside ChatGPT into a working diagram. He also showed how the bot can recommend streaming service Spotify in response to a user's request to create a playlist.

Shares of all the companies that OpenAI mentioned as partners and whose applications will be available on ChatGPT, which the company says has about 800 million users a week, jumped in trading on Oct. 6.

Which stocks have gone up in price

- Quotes for collaborative design app Figma rose 7.4% by the close (at the moment, shares were up 16.4%).

- Shares of CRM systems and marketing software developer HubSpot rose 2.6%.

- The papers of Salesforce, a developer of cloud-based enterprise solutions for marketers, added 2.3%.

- Shares of online travel booking service Expedia Group were up 7% at one point, but ended Monday's trading up 2.1%.

- Shares of TripAdvisor, an aggregator of reviews of travel destinations, hotels and restaurants, were up 7% at the moment, but ended trading up less than 1%. In the post-market, they rose again by 6%.

- Barbie toy maker Mattel was cited by OpenAI as an example for potential integration: the stock jumped 6% at one point, but by the end of the day it had completely lost all of its gains.

- Shares of music streaming service Spotify Technology, which ChatGPT can recommend as part of its new app system, rose 1.2%.

- Securities of educational service Coursera added 0.4%.

- Shares of cab service Uber Technologies, also mentioned in the list of OpenAI partners, rose 3.6%.

What the analysts are saying

- "It's a momentum market: anything related to OpenAI moves stocks, and yet investors completely ignore the fundamentals," Themis Trading partner Joe Saluzzi told Bloomberg. - We don't know, of course, how much revenue every mention of OpenAI will generate. And while such market moves are troubling, there is a lot of money being made and spent on AI right now. This is not Pets.com (the Internet company that became a symbol of the dot-com bubble. - Oninvest). Everyone realizes that we are at the bubble stage. The problem is that no one knows whether we are at the very beginning or near the end".

- "OpenAI is demonstrating new use cases and helping software developers attract users," Bloomberg Intelligence analyst Anurag Rana wrote. He added that OpenAI's deepening partnerships with other companies could "alleviate fears of widespread disruption in the software industry."

- Before the conference, Wedbush analysts wrote in a note to clients: "Investors were primarily expecting announcements that could have a major impact on the online travel sector - whether from a user scenario or commercialization perspective." However, they said OpenAI has shown it can be a partner to such businesses rather than a threat, MarketWatch quoted Wedbush's note as saying.

- Mizuho analysts called the announcement of new integrations with ChatGPT "a negative signal for the open web in general and for Google in particular," MarketWatch writes. In their view, the chatbot is already threatening both search engines and app stores. "If more and more user activity is centered inside ChatGPT, which accesses embedded apps directly, it could lead to many existing apps being effectively reduced to mass-market commodity status," the analysts said.

At the same time, according to Mizuho's team, integration with ChatGPT could allow travel companies like Booking.com and Expedia to "reach a wider audience - at least initially - with minimal customer acquisition costs." Later, however, when developers start publishing their apps to ChatGPT en masse, there could be "risks of creating new user habits as OpenAI seeks to change familiar scenarios of user behavior," analysts warn.

This article was AI-translated and verified by a human editor

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