This article first appeared on GuruFocus.
Sep 29 – OpenAI has taken another step into e-commerce with the launch of Instant Checkout, a new feature that lets users complete purchases directly through ChatGPT. The tool currently supports single-item orders from U.S. Etsy (NASDAQ:ETSY) sellers, with plans to add more than one million Shopify (NASDAQ:SHOP) merchants, including brands like Skims and Glossier.
The announcement sent Etsy’s stock up nearly 14% on Monday, while Shopify shares climbed more than 5%. The feature is available to U.S.-based ChatGPT Plus, Pro, and Free users, and OpenAI plans to expand it to more regions in the future.
Instant Checkout could also create a new revenue stream for OpenAI, which earns transaction fees through confidential agreements with Etsy and Shopify. For users, the checkout process remains free and product prices stay unchanged.
Michelle Fradin, OpenAI’s product lead for ChatGPT commerce, said the feature reflects the company’s broader goal of making ChatGPT a tool that helps users accomplish real-world tasks. OpenAI also intends to add multi-item carts and expand international support in upcoming updates.
Shares of Etsy and Shopify rallied as investors viewed the move as a sign of growing opportunities in AI-driven commerce.