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Airbnb, Inc. (NASDAQ:ABNB) CEO Brian Chesky is reportedly launching a new artificial intelligence (AI) venture focused on developing AI models.
Chesky is in the early stages of creating a separate AI lab that could focus heavily on user interaction and design rather than conventional text-based chatbot experiences, Fortune reported, citing people familiar with the matter.
The Airbnb co-founder will remain the chief executive of Airbnb while backing the new venture, though he is not expected to lead the lab directly, the report added, citing the sources.
Chesky, who studied design before co-founding Airbnb nearly two decades ago, has repeatedly argued that AI products for industries such as travel and e-commerce require richer interfaces than text prompts alone.
Chesky has previously said existing AI tools are not yet robust enough for the type of travel experiences he envisions, favoring more immersive and interactive interfaces instead.
Airbnb did not immediately respond to Benzinga's request for comments.
The reported AI effort aligns with Airbnb's broader strategy to evolve beyond home rentals into a more comprehensive travel platform.
The company has expanded into additional services and experiences as Chesky works toward building what he has described as a "do-it-all" travel app.
Airbnb reported first-quarter revenue of $2.27 billion, up 6% from a year earlier and slightly ahead of analyst expectations of $2.26 billion.
For the second quarter, the company forecast revenue between $2.99 billion and $3.05 billion, compared with analyst estimates of $3.04 billion, while projecting year-over-year growth in Nights and Experiences booked to remain moderate relative to the first quarter.
Price Action: Shares of Airbnb closed Thursday at $133.72, up 0.1% and declined 0.09% to $133.60 in after-hours trading, according to Benzinga Pro.
According to Benzinga Edge Stock Rankings, ABNB ranks in the 94th percentile for Growth, with weak short-term performance but a positive price trend over the medium and long term.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Airbnb said AI generated 60% of its new code in the first quarter as the company reported strong revenue growth and expanding AI-driven operations.
Unlike travel competitors like Booking Holdings, Inc. (NASDAQ:BKNG) that have embraced partnerships with major AI firms like OpenAI, Airbnb has largely stayed away from integrating chatbot-driven experiences into its platform.
Airbnb Inc. shares are trading lower Friday as travel stocks slid on rising energy costs, inflation worries and weaker consumer confidence.
