Intuit's AI Integration Boost Drives Pre-Market Gains

about 2 months ago

Nathan Hager

"It's not tax season yet but it could uh take you less time due to their AI tools if you're using Turboax or QuickBooks. So that is that is the I guess the the positive that AI monetization is showing up in some of these pockets of these software companies. In it is the financial software company owns Turboax and QuickBooks saw their sales jump on the back of these new AI tools. The shares are up three and a half% in pre-market trade. The CEO citing that these early bets into AI are paying off for them and they are especially seeing a tick up of uh use when it comes to midsize businesses using their AI tools. Management's touting further plays to expand its use and we heard earlier this week that they are now integrating chat GPT into their Turboax software. So, it's good news for in it when it comes to integrating these AI tools and making it pay off for them."

Intuit (INTU) is benefiting from its early investment in AI integration. The company has seen a 3.5% pre-market increase as its financial software, including Turboax and QuickBooks, shows improved usage among midsize businesses. Management highlights that incorporating chat GPT and other AI enhancements is already paying dividends, suggesting potential near-term upside.

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