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Shopify (SHOP.N) stock price rose 33.8% in pre-market trading, following a third-quarter revenue outlook that exceeded market expectations. Shopify stated that it expects a revenue growth rate of "slightly over 30%." This growth rate is higher than Wall Street's previous expectation of 27% and implies that the company's revenue growth has exceeded 30% for the sixth consecutive quarter. Analyst Anurag Rana noted in a report that, as the quarter progresses, rising costs related to artificial intelligence were initially expected to compress profit margins. Shopify mentioned in its earnings call in May that more than half of its code is generated through artificial intelligence.