OpenAI’s Golden Touch Spreads as Stocks Soar Off Mere Mentions

(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.

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.