OpenAI Launches Into Its Boring Is Beautiful Phase: Dave Lee

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. On Monday, Advanced Micro Devices Inc. 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 Inc. climbed as much as 16%, HubSpot Inc. added 11% and Salesforce Inc. gained 4.2%. Online travel companies also saw brief pops, with Expedia Group, Inc., and TripAdvisor Inc., both advancing at least 7%. Even shares of toymaker Mattel Inc. jumped ...