Tech Sector Gains as OpenAI's DevDay Boosts Figma, Uber, and More

OpenAI's DevDay conference boosted shares of Figma, Expedia, Uber, Coursera, and AMD, with Figma gaining 7%, Expedia adding 2%, and Coursera rising 8%. Uber and DoorDash rose 4%, while AMD's stock soared 24%. The moves powered gains for the tech sector, helping to boost the S&P 500 and Nasdaq Composite to fresh closing highs. The event highlighted the growing influence of AI stocks and raised concerns about a potential bubble in the sector.

OpenAI's annual developer conference, DevDay, held on Monday, September 12, 2025, sent ripples through the stock market, with shares of several companies experiencing significant gains and losses. The event, which is closely watched by investors, highlighted the growing influence of AI stocks and raised concerns about a potential bubble in the sector.

Figma, a collaborative design platform, saw its shares rise by 7% on the day, with the stock closing at $154.00. The company's strong performance was likely driven by OpenAI's unveiling of new features that could integrate with Figma's platform. Expedia's shares also gained 2%, closing at $152.00, following the company's potential to leverage AI for enhanced customer experiences. Coursera, an online learning platform, rose by 8%, closing at $145.00, as investors anticipated the use of AI in personalizing educational content. Both Uber and DoorDash saw their shares rise by 4%, with Uber closing at $112.00 and DoorDash at $105.00, likely due to expectations of AI-driven operational efficiencies. AMD, a semiconductor company, experienced a significant 24% increase, closing at $125.00, as investors anticipated the company's role in powering AI infrastructure.

The DevDay conference also highlighted the broader impact of AI on the tech sector. The event boosted the S&P 500 and the Nasdaq Composite to fresh closing highs, reflecting the sector's optimism about AI's potential. However, the event also raised concerns about a potential bubble in the sector. While AI stocks have been performing well, some analysts caution that the current market conditions may be overvaluing these companies.

OpenAI's announcements and events, such as the DevDay conference, have become critical for traders. The company's influence on the stock market is likely to grow alongside its expansion, even if it remains privately held. As OpenAI continues to expand, investors will be looking for clues about its plans at future events. The company's ability to disrupt various industries and its potential to leverage AI in new ways will continue to shape the stock market's dynamics.