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Investors and analysts alike swiftly recognized the disruptive potential of ChatGPT when OpenAI publicly released it in November 2022. Generative AI quickly transformed from a novelty to a genuine tool that helps people be more productive by simplifying workflows and providing analysis.
But disruption can be difficult for affected industries. Much as ridesharing impacted the taxi industry or streaming services upended cable television, generative AI is threatening to draw revenue away from more established businesses that now need to deal with a new threat to their bottom lines.
Wedbush Securities has identified Pinterest (PINS) and Maplebear (CART), which operates Instacart, as particularly vulnerable to ChatGPT right now, as the AI platform announced that it began tests for an advertising platform. “Ads do not influence the answers ChatGPT gives you, and we keep your conversations with ChatGPT private from advertisers,” OpenAI disclosed on its website. “Our goal is for ads to support broader access to more powerful ChatGPT features while maintaining the trust people place in ChatGPT for important and personal tasks. We’re starting with a test to learn, listen, and make sure we get the experience right.”
Wedbush analyst Scott Devitt said in a research note that OpenAI is already getting interest from top ad agencies. He theorizes that Pinterest is at risk of losing advertising dollars from agencies, and that Instacart could be hurt as it has been working to offer advertising and omnichannel tools for local and regional grocery chains. Devitt wrote that Pinterest and Instacart “could be limited in the coming quarters, as investors more intensely debate the role of AI-led commerce and advertising over the next 12 to 18 months.”
Let’s look at both of these companies.
Pinterest (PINS)
Based in San Francisco, California, Pinterest operates as a hybrid social media platform and advertising network. The company’s platform allows users to post photos, called Pins, of everything from food, clothing, and crafts to other interests. Pins can be organized onto individual boards on users’ profiles.
PINS stock has been a massive disappointment in the last year, however, down 61% versus a 12% gain for the S&P 500 ($SPX). The company saw $4.22 billion in revenue in 2025, up 16% from a year ago, but net income dropped 78%, from $1.86 billion to $416.8 million.
The company notably missed earnings estimates in the fourth quarter, posting EPS of $0.32, below analysts' $0.39 estimate. Pinterest also announced it would lay off 15% of its workforce as it shifts resources to AI development.
But analysts have a bullish outlook for the stock, with 18 out of 35 analysts who cover PINS giving it a “Strong Buy” rating. The 17 other analysts recommend a “Hold” rating on shares. PINS stock has a mean price target of $29.06, representing potential upside of 88%. Pinterest has a market capitalization of $10.4 billion.
Maplebear (CART)
Maplebear, which is also based in San Francisco, is a grocery technology company that operates the Instacart platform, which allows users to shop for groceries online and have them delivered to their homes. The company has a market capitalization of $9.5 billion.
Revenue in 2025 was $3.74 billion, up 11% from a year ago, while net income of $447 million was down 2% from 2024. Maplebear narrowly beat analysts’ expectations in the fourth quarter, with EPS of $0.53 coming in just a penny higher than expectations.
However, CART stock is down 27% over the past 52 weeks — better than Pinterest, but still far below the S&P 500 — as the company faces increased competition in the grocery business from Amazon (AMZN) and Walmart (WMT).
Based on 34 analysts who cover CART stock, Maplebear has a consensus rating of “Moderate Buy." 14 analysts have a “Strong Buy” rating, one analyst has a “Moderate Buy,” 17 analysts have a “Hold” rating, and two analysts have a “Strong Sell.”
The mean price target for CART stock is $49.86. That suggests potential upside of 36% from here.
