Shopify (SHOP) stock surged 17% on August 5 after second-quarter earnings beat expectations. Revenue climbed 34% year over year to $3.58 billion, exceeding estimates by $140 million. Shopify also raised its guidance for the current quarter. CNBC’s Jim Cramer criticized analysts who predicted that informal AI tools, dubbed « vibe coding », would allow small merchants to skip Shopify entirely. Shopify President Harley Finkelstein argued that AI is fueling a boom in new business formation, expanding the company’s potential customer base.
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