Every chief executive in America has spent two years saying artificial intelligence is transforming their company. Almost none can point to a line in the financials where it shows up. After Airbnb (ABNB) reported second-quarter results, Brian Chesky went further than the usual formulation: "I think now it's safe to say AI is the best thing to have happened to Airbnb." The stock rose roughly 15% the next day.
He said it in a CNBC interview published Aug. 7, following the company's earnings call the evening before. In the same interview, he said Airbnb will spend "a lot more" on AI tokens this year than it originally forecast, a mid-year increase in a cost line, disclosed on television rather than in guidance. He attached no dollar figure to it, and nobody should invent one on his behalf.
