Shopify stock soars after company launches AI tools, slashes expenses

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Shopify shares surged more than 20 per cent in early trading on Thursday after the company reported quarterly earnings that surpassed analyst expectations.

) shares surged more than 20 per cent in early trading on Thursday after the company reported quarterly earnings that surpassed analyst expectations. ) shares surged more than 20 per cent in early trading on Thursday after the company reported quarterly earnings that surpassed analyst expectations.

Shopify's shares on the New York Stocks Exchange jumped more than 22 per cent on Thursday. The stock was trading at $59.96 at 10:25 a.m. ET, an increase of nearly 23 per cent compared to Wednesday's close. Shopify also recently launched AI-powered tools, such as the Shopify Magic suite and app Sidekick, to stay ahead in the hyper-competitive e-commerce business.

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