Palantir’s stock (PLTR) experienced a significant surge after the company reported a record quarterly profit and attributed their success to artificial intelligence. The stock saw a nearly 20% increase in its value. This demonstrates the growing importance of AI technology in driving business growth and profitability.
Shopify (SHOP) also saw a substantial increase in its stock price, skyrocketing over 20%, following the announcement of the company’s new AI-powered tools for merchants. Additionally, Shopify reported a significant decrease in operating expenses compared to the previous year, showing effective cost management strategies.
On the other hand, Moderna (MRNA) experienced a slump in its stock price, with shares dropping 18% at the open. This marks the largest decline in the stock since November 2021. The decline was attributed to weaker-than-expected sales guidance, driven by soft demand for the COVID-19 vaccine.
In other news, Starbucks (SBUX) shares rose more than 10% as the company exceeded Wall Street’s estimates for both revenue and earnings per share. This positive performance indicates strong consumer demand for Starbucks’ products.
Overall, these developments highlight the increasing reliance on AI technology for business success, with companies like Palantir and Shopify leveraging AI to drive growth and profitability. However, Moderna’s stock decline shows the continuing challenges faced by companies in the healthcare sector due to shifts in demand for COVID-19 vaccines.