Yelp Rises 3% as OpenAI Deal Offsets Ad Slump

Yelp shares climbed 3% Friday, trading at $23.19, as investors responded positively to the company's expanding AI partnerships, particularly its data-licensing deal with OpenAI. The agreement allows ChatGPT to surface Yelp reviews and business details in local search responses, with plans to integrate Yelp's quote-request feature directly into the chatbot. Despite the daily gain, Yelp stock remains down nearly 29% over the past year. Second-quarter results showed net revenue up 1.4% to $375.5 million, beating guidance, though net income fell 28%. Core advertising revenue was flat or declining, while data licensing revenue nearly doubled to a record $33 million.