E-commerce Stocks Rally on OpenAI's 'Buy in ChatGPT' Feature
Shopify and Etsy shares surge as the AI firm unveils an instant checkout tool, signaling a new frontier in conversational commerce.
Shares of e-commerce leaders Shopify (SHOP) and Etsy (ETSY) climbed sharply on Monday following OpenAI's announcement of a new 'Buy it in ChatGPT' feature designed to create a seamless shopping experience directly within its chat interface.
The rally saw , while Shopify stock rose more than 5% on the news. The new functionality allows U.S. ChatGPT users to purchase products from American Etsy sellers instantly, without ever leaving the conversation. Shopify, which supports over a million merchants, is expected to integrate the feature soon.
The move represents a significant step into 'conversational commerce,' where AI agents facilitate transactions based on user prompts. According to the announcement, the tool can field a request like "find the best running shoes under $100," present relevant products, and handle payment and shipping details securely. This signals a potential new and powerful sales channel for online merchants looking to leverage the massive user base of generative AI platforms.
The market reaction highlighted the disruptive potential of OpenAI's entry into the checkout space. While e-commerce platforms celebrated the news, shares of payment processor PayPal (PYPL) dipped as investors weighed the . OpenAI has also stated its intention to open-source the technology, which could further accelerate the integration of AI-powered checkouts across the web.