Shopify Was Supposed to Be an AI Casualty. Its AI-Referred Traffic Just Tripled.
The technology that was supposed to replace this e-commerce platform is feeding it buyers instead.
Overview
The bear case on Shopify (NASDAQ: SHOP) over the past year has been simple. If artificial intelligence (AI) agents start doing the shopping, they could come between merchants and their customers, cutting the e-commerce platform behind those merchants' storefronts out of the transaction. Coming into this week's report, shares sat about 32% below their 52-week high.
Then the company reported its second quarter on Wednesday. AI-referred traffic to merchants' storefronts tripled year over year. Orders that began with an AI search tripled, too. And new buyers arriving through AI channels placed orders at nearly twice the rate of other channels.
Details
In short, the technology that was supposed to cut Shopify out is, so far, sending it customers. The market noticed, and shares jumped about 17% on the report, to about $144 as of this writing.
Source
Originally published at www.fool.com.
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