Why Intuit’s Stock Is Rising Pre-Market Today?

The partnership aims to help ChatGPT users directly access Intuit’s applications and get personalized financial insights and recommendations.

• Intuit will spend over $100 million to accelerate its AI-driven expert platform strategy. 
• The partnership will leverage Intuit’s users' financial data and habits to deliver more personalized, targeted, and actionable advice.
• Intuit’s products include Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp. 

Intuit Inc. (INTU) announced on Tuesday a multi-year agreement valued at more than $100 million with OpenAI to integrate its applications into the AI models of the ChatGPT maker. The partnership aims to help ChatGPT users directly access Intuit’s applications and get personalized financial insights and recommendations. 

Intuit’s stock traded over 3% higher in Tuesday’s premarket. 

How The Partnership Works

The partnership will address the demand for financial guidance, as millions of individuals and companies turn to ChatGPT with complex queries about managing debt, improving credit, increasing business profits, or finding new customers. 

By harnessing Intuit’s users' financial data and habits, the new applications will generate more personalized, focused, and actionable advice. 

“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."

-Sasan Goodarzi, CEO, Intuit.

Consumer and Business Benefit 

Intuit’s products include Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp. The collaboration with OpenAI will allow consumers and businesses to execute tasks directly using Intuit’s applications within ChatGPT.

Users can locate the optimal credit card, personal loan, or mortgage based on their specific spending habits and approval likelihood. For businesses, the new Intuit apps within ChatGPT will generate customized insights to boost revenue and profitability, using real-time operational data.

The OpenAI models will power AI agents across Intuit's platform, enabling them to comprehend intricate questions, instantly surface key insights, and assist in completing complex tasks such as cash flow projections, tax preparation, or payroll administration, all through natural conversation.

INTU stock has gained over 2% year-to-date and declined by more than 4% in the last 12 months. 

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