Walmart Inc. (WMT.US) stock price reaches a new all-time high! Establishes partnership with OpenAI.

Walmart Inc. (WMT.US) surged nearly 5% on Tuesday, reaching a historic high of $107.21, as the company announced a partnership with OpenAI. Walmart Inc. stated that customers will be able to use the "instant checkout" feature directly on the ChatGPT platform to shop and make purchases. Additionally, customers can engage in conversational interactions with ChatGPT through the search bar on the Walmart Inc. main website and Sam's Club member store websites. Walmart Inc. CEO Doug McMillon said in a press release, "For years, the e-commerce shopping experience has mainly consisted of a search bar and a long list of product results. That is about to change. The future will bring a native AI shopping experience that is multimedia, personalized, and context-aware." OpenAI co-founder and CEO Sam Altman expressed excitement about partnering with Walmart Inc., hoping to "make everyday shopping a little easier." Walmart Inc. did not disclose the financial details of the deal, but this partnership is part of the company's broader AI strategy. Doug McMillon stated that the company is rapidly moving towards a "more enjoyable, more convenient future" through its AI shopping assistant "Sparky" and similar collaborations. Walmart Inc. is also expanding its e-commerce and delivery operations. The U.S. Walmart Inc.'s e-commerce business saw further profitability in the second quarter, having achieved profitability in the first quarter. Recently, OpenAI has been entering into numerous partnerships. The startup has collaborated with AI infrastructure providers and chip manufacturers, including AMD (AMD.US) and Broadcom Inc. (AVGO.US). NVIDIA Corporation (NVDA.US) announced plans at the end of September to invest up to $1 billion in OpenAI. OpenAI's partners are not limited to chip manufacturers. The company is also piloting application and e-commerce platform integration projects with companies like Etsy (ETSY.US) and Shopify (SHOP.US). UBS Group AG analyst Michael Lasser wrote in a client report that with the expanding user base of ChatGPT, the collaboration between Walmart Inc. and OpenAI could "create significant opportunities." By September, ChatGPT had reached 700 million weekly active users. Michael Lasser said Walmart Inc. is once again "leading the way in adopting new technologies to better reflect evolving consumer trends." He added, "ChatGPT is increasingly being used for product discovery. Therefore, this collaboration is expected to bring incremental growth to Walmart Inc. and differentiate it from other retailers." Data shows that Walmart Inc. stock price has risen over 18% year-to-date. In comparison, Amazon.com, Inc. (AMZN.US) and Target Corporation (TGT.US) have seen their stock prices decline by approximately 1% and 34% respectively this year.