OpenAI’s pullback from native checkout in ChatGPT leaves more control with major retailers, a shift Bank of America Securities analyst Christopher Nardone says favors Walmart’s AI-first commerce strategy and, to a lesser degree, Target’s, as traffic and data remain anchored in their own apps and ecosystems.
Key Takeaways
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Analyst backs Walmart’s AI lead: Bank of America Securities analyst Christopher Nardone reiterates a positive stance on Walmart, arguing that OpenAI’s decision strengthens Walmart’s AI-driven commerce model.
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Ecosystem and ad revenue protection: Nardone emphasizes that routing ChatGPT users back to retailer apps helps Walmart preserve control over checkout and shopper data.
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Target still benefits: While Nardone sees Walmart as the primary beneficiary, he notes that Target’s existing ChatGPT integration and ongoing AI investments should also position it to gain.
