MercadoLibre, Inc. (MELI) reported a significant increase in artificial intelligence (AI) investment in Q2 2026, growing approximately $80 million year-over-year. This spending contributed to enhanced productivity across its operations, with approximately 20,000 developers utilizing AI, leading to a 110% increase in code submissions and a 75% rise in deployments. Among notable achievements, AI agents reviewed over half a million code submissions and migrated about 9,000 services to newer platforms.
The company’s AI-powered search rollout across its largest sites has increased conversion and click-through rates, with nearly half of its gross merchandise volume (GMV) sellers using the Seller Assistant tool. Despite increased AI spending, MercadoLibre improved operating efficiencies, reducing Product Development expenses to 7.2% of net revenues from 8.4% the previous year.
In terms of market performance, MercadoLibre’s shares have risen 15.2% over the past three months, outperforming the industry average of 3.8%. The current forward price-to-earnings ratio for MercadoLibre stands at 37.18, notably higher than the industry average of 20.87 and above competitors Amazon (22.70) and Sea Limited (21.49).
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