PayPal Benefits from OpenAI Partnership Amid Mixed Earnings Guidance

about 2 months ago

Nora Melinda

"Let's do it. Looking at shares of PayPal. This is ticker PPL. up on the day up about 3.9% and this is after it raised its fullear earnings guidance but they did talk about the fact that they are seeing a pullback and particularly in terms of consumer spending here. So that's something that they noted but of course the headline here was the open AI deal. They're going to be embedding uh PayPal it's into its wallet into chat GBT. So PayPal's wallet will be embedded into chat GPT and you really are seeing uh the street really clearly taking a liking to this. It seems like OpenAI is striking a lot of deals as of late."

PayPal (ticker PPL) is enjoying a positive market reaction, with shares rising about 3.9%, following an improved full-year earnings guidance and a strategic partnership to integrate its wallet with ChatGPT. Despite noting a pullback in consumer spending, the deal with OpenAI appears to be the predominant catalyst bolstering investor sentiment.

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