NEW YORK, March 5, 2026, 10:31 EST
- The Trade Desk shares surged after a report tied the ad-tech company to OpenAI’s developing advertising plans for ChatGPT.
- CEO Jeff Green picked up 6 million shares across a three-day stretch, according to a filing.
- Investor bets are coming into focus as ads within AI chat catch the eye of major brands looking for new channels to spend their budgets.
The Trade Desk, Inc. surged roughly 19% on Thursday, following news that OpenAI has been in preliminary discussions with the ad-tech firm to explore ad sales on ChatGPT. The stock rose $4.78 to $29.95 early in the session. Reuters
The report landed just as marketers puzzle over the meaning of “ads in chat,” and who actually gets a cut from serving them. For ad-tech firms, there’s a fresh slice of inventory here—one that doesn’t live in the standard web or app feeds.
The Trade Desk operates a demand-side platform, or DSP, letting advertisers and agencies purchase digital ads automatically—across everything from websites and apps to streaming TV. Unlike the largest ad sellers, it doesn’t control a consumer platform, so finding new inventory can play a bigger role for the company.
OpenAI has reportedly talked with The Trade Desk about handling ad sales, at least for the early stages, The Information reported, hinting that the AI company could turn to external partners as it ramps up. Still, the report noted OpenAI intends to eventually develop its own ad tech stack. Investing
CEO Jeff Green picked up 6 million Class A shares from March 2 to March 4, buying through a limited partnership at weighted-average prices ranging from $23.49 to $25.08, according to a Form 4. That’s around $148 million in total at those prices, the filing said. Green, who also sits on the board and holds a 10% stake, received restricted stock and stock options as well, per the document. SEC
The Trade Desk wouldn’t comment, according to Barron’s, and OpenAI hasn’t responded to a request for comment. Barron’s noted that Trade Desk faces slowing growth and tough competition from big players like Alphabet’s Google and Amazon. Barron’s
Back on Feb. 25, the company reported its quarterly numbers. CEO Green put 2025 revenue at $2.9 billion for The Trade Desk. The board also cleared more share repurchases, pushing the leftover buyback pool to $500 million. The Trade Desk
OpenAI started testing ads in ChatGPT on Feb. 9, targeting some Free and “Go” users in the U.S. The ads—shown as sponsored links—are kept apart from chatbot replies. According to OpenAI, ads aren’t affecting the answers and are clearly marked as sponsored. OpenAI
But there’s a risk here: users might bolt if ads start to feel forced. “If ads feel clumsy or opportunistic, users can easily switch to rival chatbots such as Google’s Gemini or Anthropic’s Claude,” Emarketer analyst Jeremy Goldman told Reuters in January. Reuters
Back in January, Reuters said OpenAI kicked off a test run of chatbot ads for several dozen advertisers, pulling its details from The Information. The outlet noted OpenAI was aiming to switch the platform to self-service for ad buyers. Reuters
Still, sources say the OpenAI discussions are in the early stages, so nothing is set. If a partnership does materialize, advertisers aren’t likely to jump in immediately—they’ll want to see results first. And OpenAI might opt for more control over targeting, measurement, and delivery than a third-party partner would be able to offer.
The Trade Desk has investors waiting for more than just a quick rally. They want solid proof—actual deals, sustained momentum. Coming earnings will tell the story: does all this translate into real platform spending, or does it fizzle out as just another splashy headline?
