Airbnb Surges 15% After Raising Outlook, Citing AI to Cut Development Time 60%
Updated
Updated · CNBC · Aug 7
Airbnb Surges 15% After Raising Outlook, Citing AI to Cut Development Time 60%
3 articles · Updated · CNBC · Aug 7
Summary
Airbnb shares jumped 15% Friday after the company posted one of its strongest growth quarters in years and lifted its full-year outlook, with CEO Brian Chesky calling AI the main driver.
AI has cut product-development time by about 60%, helped Airbnb ship roughly 80% more features year over year, and kept headcount roughly flat even as spending on AI tokens rises sharply.
45% of guests who use Airbnb's AI agent no longer need a human agent, while the tools are also helping attract bookings and making it easier for hosts to create and price listings.
Chesky said first-time bookers are growing at the fastest pace in four years, the U.S. business accelerated from the first quarter, and hotel listings are expanding three times faster than home rentals.
The company is now using more than a dozen AI models internally and expects revenue to grow much faster than staffing, underscoring a broader push to become what Chesky called an AI-native company.