Intuit to pay OpenAI over $100 million for model access, ChatGPT integrates with TurboTax

Core Insights - Intuit has entered into a multiyear agreement with OpenAI, committing over $100 million to utilize OpenAI's large language models to enhance its financial products [1] - Intuit's stock rose by 3% following the announcement of the partnership [1] Group 1: Partnership Details - The collaboration will integrate OpenAI's ChatGPT with Intuit's services, allowing TurboTax users to securely link their accounts and receive guidance on tax and financial actions [2] - Users will have the ability to authorize Intuit to access relevant data, providing personalized results such as tax refund estimates and QuickBooks insights based on real-time business activities [3] Group 2: Strategic Implications - For OpenAI, this partnership represents a significant addition to its finance sector collaborations, contributing to its revenue and supporting its strategy to expand ChatGPT's application across various industries [4] - OpenAI has previously formed similar partnerships with companies like PayPal, Shopify, and Walmart, focusing on integrating financial functionalities into ChatGPT [5]