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Intuit Inc (NASDAQ:INTU) shares are trading higher on Tuesday after the company announced a partnership with OpenAI.
What Happened: Intuit announced a multi-year, strategic partnership with OpenAI to add Intuit-powered apps in ChatGPT. Intuit said it will deepen its use of OpenAI’s frontier models in its proprietary generative AI operating system as part of the $100 million plus deal.
The TurboTax, Credit Karma and QuickBooks parent company said it aims to create the future of financial intelligence by combining the platforms to drive growth. ChatGPT users will gain access to more insightful, more specific and more actionable responses through Intuit apps. Consumers and businesses will now be able to get personalized financial insights and recommendations.
“We are taking a massive step forward to fuel financial success for consumers and businesses, unlocking growth for both companies,” said Sasan Goodarzi, CEO of Intuit.
“Our partnership combines the power of Intuit’s proprietary financial data, credit models, and AI platform capabilities with OpenAI’s scale and frontier models to give users the financial advantage they need to prosper.”
By now you're likely curious about how to participate in the market for Intuit – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
INTU Price Action: Intuit shares were up 3.41% at $668.00 at the time of publication on Tuesday, according to Benzinga Pro.
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Posted In: INTU
