The e-commerce company reported a first-quarter net loss of US$581 million, an improvement from US$682 million in the same quarter last year, while its revenue jumped 34 per cent. (The Logic)

Talking point: The company’s shares dropped more than 10 per cent shortly after markets opened. Citi analyst Tyler Radke said in a note that shares might drop slightly because of the second-quarter outlook, in which the company forecasts slightly higher than expected costs, and because Shopify’s first-quarter earnings outperformed analysts’ expectations by less than in previous quarters. Executives spent much of their conference call with analysts touting the company’s artificial intelligence dominance, with president Harley Finkelstein saying, “AI is now Shopify’s native language.” The firm has adopted AI into nearly all the work it does. AI now “writes well over 50 per cent of our code today,” Finkelstein said, with the expectation that number will go up significantly.