Airbnb Inc. (NASDAQ:ABNB) said AI generated 60% of its new code in the first quarter, as the company reported an 18% revenue surge to $2.7 billion.
One engineer can now handle work that previously required a team of 20, CEO Brian Chesky said on the company’s earnings call, with AI agents operating under human supervision. “Adopting AI tools gives us leverage to build more software for API partners, accelerating work we previously did not have resources for,” Chesky added.
ABNB’s AI customer support agent now resolves 40% of issues without human escalation, up from 33% earlier this year.
AI Coding Race Intensifies Across Big Tech
The figure echoes a broader industry shift. OpenAI President Greg Brockman said AI coding tools leaped from writing 20% to 80% of developer code in a single month, while Alphabet unit Google (NASDAQ:GOOG) (NASDAQ:GOOGL) reports 25% of new code is AI-assisted and Spotify Technology (NYSE:SPOT) says its top developers now supervise AI rather than write code themselves.
Anthropic CEO Dario Amodei said at the World Economic Forum in January that some of his engineers have stopped writing code manually, predicting AI could handle most software engineering within six to twelve months.
Microsoft (NASDAQ:MSFT) CEO Satya Nadella has also said AI writes 20-30% of the company’s code, while Meta Platforms (NASDAQ:META) CEO Mark Zuckerberg predicted AI could handle half of Meta’s development within a year.
However, venture capitalist Chamath Palihapitiya warned in April that faster AI coding means little without documenting the reasoning behind engineering decisions, cautioning that teams risk repeatedly solving the same problems without capturing the "why" behind their choices.
Chesky also cautioned that no company has figured out AI for travel or e-commerce, noting chatbots carry too much text, lack direct manipulation, offer poor comparison tools and are single-player by design while most bookings involve multiple people.
Trading Metrics
Airbnb has a market capitalization of $84.12 billion, with a 52-week high of $147.25 and a 52-week low of $110.81.
The stock of the online platform that allows property owners, or hosts, to rent accommodations to travelers has gained 6.38% year to date and 17.71% over the past six months.
Price Action: According to Benzinga Pro data, ABNB closed on Friday at $141.49, up 0.73%.
Benzinga's Edge Stock Rankings indicate ABNB stock has a positive price trend across all time frames.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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