PayPal Stock Surges 13% on OpenAI Partnership for ChatGPT Wallet Integration
PayPal shares jumped 13% following the announcement of a strategic partnership with OpenAI to integrate its payment services into ChatGPT. The deal enables PayPal users to make purchases directly through the AI chatbot via a "Buy with PayPal" button, while merchants gain access to a new distribution channel within ChatGPT's interface.
The announcement coincided with PayPal's Q3 earnings release, where CEO Alex Chriss framed the MOVE as positioning the company for an "agentic commerce future" driven by artificial intelligence. Financial results showed 7% year-over-year revenue growth to $8.4 billion, with transaction margin dollars rising 6% to $3.9 billion.
Total payment volume reached $458.1 billion, marking an 8% annual increase. While overall payment transactions declined 5% to 6.3 billion, the company noted 7% growth when excluding payment service provider-linked transactions.
