OpenAI Is Fast Becoming a Whale in Stock Market It Has Shunned

OpenAI may not be publicly traded, but the world’s most valuable startup is increasingly making waves in the stock market.

Just last week, OpenAI sent shares of e-commerce companies Shopify Inc. and Etsy Inc. soaring after unveiling an instant buy option in ChatGPT. Then a blog post detailing new features the company is using internally sent a fresh wave of jitters through software stocks like Atlassian Corp., already reeling from fears about AI disruption.

On Monday, it inked a deal with Advanced Micro Devices Inc. that could generate tens of billions of dollars in new revenue for the chipmaker. ...