OpenAI launches into its boring is beautiful phase

LIKE HAVING THE hottest A-lister on your arm, being a company merely associated with the OpenAI hype machine can send your street cred soaring these days.

- DAVE LEE Bloomberg

On Monday, Advanced Micro Devices shares surged 24% on the back of a deal to sell OpenAI chips, adding some $63.4 billion to its market value. But the gains didn't end with AMD, as Bloomberg News reported:

Figma climbed as much as 16%, HubSpot added 11%, and Salesforce gained 4.2%. Online travel firms also saw brief pops, with Expedia Group, and TripAdvisor, both advancing at least 7%. Even shares of toymaker Mattel jumped nearly 6%. What these companies had in common was their involvement in the keynote address at OpenAI's developer day in San Francisco-the "nerdapalooza" for those building products using AI.