TMTB EOD Wrap

QQQs +80bps in another yawner of a day in Tech (kidding of course!). Semis +3% led the way up helped by AMD +23% after announcing a 6GW deal with OAI (our thoughts on the risk/reward and set up below).

Wired had a good recap of the OAI Dev day with an article that captured it well: OpenAI Wants ChatGPT to Be Your Future Operating System

Wired:

On Monday, OpenAI unveiled a new way to embed third-party apps directly into ChatGPT. At the company’s annual developer conference in San Francisco, CEO Sam Altman said the move would “enable a new generation of apps that are adaptive, interactive, and personalized, that you can chat with.”

Starting today, some developers will be able to use a preview version of a new Apps software development kit (SDK) to build apps within ChatGPT using open standards. The ability to distribute these apps is currently limited to a handful of big partners. Altman showed off several examples of how these apps would ultimately work within ChatGPT. The demo featured Spotify, Canva, and Zillow apps appearing inside a chat and responding to typed commands.

Altman said that OpenAI plans to introduce new ways for developers to monetize their ChatGPT apps, including methods for buying things through the chatbot. “Soon we’ll offer an agentic commerce protocol, with instant checkout from right within ChatGPT,” Altman said.

Some great commentary in TMTB chat here in case you missed it. Link to Sam Altman’s keynote here

Software caught a bid as it turns out OAI isn’t eating everyone’s lunch (for now), but instead partnering with them. Some of the companies mentioned in partnership also caught a bid today: FIG +7%; EXPE +2%; HUBS +2.5%; UBER +3.5%; DASH +4%

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No better endorsement of TMTB Chat than “Bonus Season is Already Feeling Better.”

Thanks to everyone who continues to share and participate. Better than all my Bloomberg chats and not even close - let’s keep it going…