Shopify Just Hit $100B — and AI Is Why
· 7 min read
If you run a Shopify store and you've been ignoring the little sparkle icon in your admin, yesterday's earnings call gave a decent reason to click it.
On May 5, Shopify reported Q1 2026 results: $100.7 billion in gross merchandise volume — the second consecutive quarter above $100B, up 35% year-over-year. Revenue hit $3.17 billion, beating estimates. The stock actually dipped on margin concerns, but that's a Wall Street story. The merchant story is about what's driving the volume, and a big chunk of the answer is AI.