Walmart Partners with OpenAI to Integrate ChatGPT for E-Commerce
Walmart's stock surged over 4% to $106.44 early Monday, reaching an all-time high of $107.20, following its announcement of a partnership with OpenAI. The collaboration aims to integrate ChatGPT into Walmart's online shopping platform, enabling users to purchase items directly through the AI bot. CEO Doug McMillon heralded the MOVE as a transformative shift from traditional search-bar e-commerce.
The retailer's shares have climbed 32% over the past year, buoyed by innovative initiatives like the OpenAI deal and live-streamed shopping events. Despite a post-earnings dip in August, WMT has regained momentum with a 4% monthly gain. Walmart is also expanding its AI-powered commerce ecosystem through partnerships with Etsy and Shopify, intensifying competition with Amazon.