Shopify stock rallies on Meta agentic AI partnership

Shopify stock jumped 7.8% to C$193.38 on Monday after the company unveiled an agentic artificial intelligence partnership with Meta Platforms. It was one of the strongest performers on the Toronto Stock Exchange.

Shopify said it is teaming up with Meta so that Meta's Muse AI agent can complete checkouts through its stores using Shop Pay.

The tie-up placed Shopify in a wider rally across AI and technology equities, with Meta climbing more than 11% amid rising adoption of its Muse AI agent.

The broader Canadian market offered a supportive backdrop, as the S&P/TSX Composite rose 0.6% for the day, led by gains in IT, Financials, and Clean Technology.

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