PayPal rises after deal with OpenAI to become payments wallet in ChatGPT

Shares of payments firm PayPal PYPL.O rise 14.4% to $80.39 in premarket trading

Co signs deal with OpenAI to integrate its payments wallet within ChatGPT

PayPal says deal gives it access to millions of ChatGPT users, who will be able to check out instantly

Developers of large language models like OpenAI are ramping up efforts to integrate e-commerce within their chatbots as they aim to monetize rising user engagement on their platforms

PayPal expects full-year adjusted EPS between $5.35 and $5.39, up from its previous view of $5.15 to $5.30. Analysts, on average, expect $5.24 - data compiled by LSEG

Co also announces first-ever dividend

As of last close, PYPL shares are down 17.7% YTD, lagging a 16.9% rise in the benchmark S&P 500 index .SPX