When a small shop owner or a startup founder can "vibe code" a fully functional website in a matter of hours, life gets considerably harder for companies that built their entire business on being the easy option. Wix.com Ltd. (WIX) watched its stock nosedive 27.1% on Wednesday, May 13, after delivering a quarterly earnings report that left Wall Street with more questions than answers.
The company pinned the wide earnings miss on heavy investments in its Base44 app-building platform and a marketing bill that ballooned nearly 50% year-over-year (YOY) to $167.8 million. Now, to stay in the game, Wix has been weaving artificial intelligence (AI) into its own products. Base44, which drew unusually strong demand during the quarter, runs on AI at its core.
