9:12 ET -- Shopify says AI is becoming a bigger part of its offering, and plans to pour more money into the service. In his prepared remarks, President Tobias Lutke says Shopify will "deepen investment in SideKick [Shopify's AI-enabled commerce assistant] and other AI capabilities." Lutke says the AI capabilities can serve its smaller merchants as well as its larger clients, which aim to support "streamlined operations and decision-making." In late January, China presented its low-cost AI model DeepSeek, which sent shivers across the rest of the tech space. But Shopify shares got a boost because it was seen as a potential beneficiary of AI models going open source, reducing costs. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 09:12 ET (14:12 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.