Airbnb is buying an AI startup: find out more

Airbnb Inc (NASDAQ: ABNB) popped 4.0% on Tuesday after announcing its first acquisition since it went public in December 2020.

Airbnb to acquire Gameplanner.AI

Anonymous sources told CNBC today that the vacation rentals giant has decided to buy Gameplanner.AI to expand its footprint in generative artificial intelligence.

Brian Chesky – the Chief Executive of Airbnb has already said that AI has the potential to catalyse a radical change in the online marketplace for short- and long-term homestays.

The Nasdaq-listed firm had cash and liquid assets of $11 billion in total at the end of September. Just days ago, it reported financial results for its third financial quarter that topped Street estimates.

Airbnb stock is now up a whopping 45% versus the start of this year.

Gameplanner.AI has been in stealth mode

Airbnb is paying just under $200 million to acquire Gameplanner.AI that’s been in “stealth mode” since its inception, as per sources familiar with the matter.

Adam Cheyer – a key figure behind Apple’s virtual assistant for iOS (Siri) cofounded the artificial intelligence startup in 2020. Cheyer was also central to Viv Labs that laid the groundwork for Bixby (Samsung’s voice assistant). Airbnb CEO Brian Chesky said today in a press release:

Together with Adam and his team, we can develop some of the best interfaces and practical applications for AI.

The stock market news arrives only days after an Italy said it will seize $835 million from Airbnb over alleged tax evasion. Wall Street currently has a consensus “hold” rating on ABNB.