Shopify (SHOP) gained 6% after announcing its partnership with OpenAI, enabling merchants to sell directly through ChatGPT conversations - a move that’s likely to increase GMV…

… if the introduction of in-chat shopping is well received by its 700M users. Importantly, enterprise prospects are likely to take notice of Shopify’s AI leadership - which could accelerate already strong category growth…

… and payments penetration, which has flattened out in recent quarters but could improve - given it would likely be the default for in-chat transactions.

With retail sales data showing ~6% total e-commerce penetration, Shopify has a lot more runway than people think.