Shopify Sinks as Muse Deal Unwinds Amid Amazon Pushback
Shopify's stock took a hit on Wednesday morning, falling by 5% to $140.21 per share. This move comes as the company's recent partnership with Meta Platforms to enable agentic checkout through Shop Pay begins to unwind.
The deal, which allows Muse, Meta's personal AI assistant, to complete purchases on users' behalf across Shopify's merchant network, had initially lifted both companies' shares after its announcement earlier this month. However, the rally has now reversed, with Meta Platforms holding steady at $748.62 per share, up 2%.
Amazon also weighed in on the partnership, blocking Muse from its own storefront due to concerns that agentic third-party applications undermine the personalized experience built into its store. The company argued that automated agents can surface recommendations disconnected from a shopper's browsing or purchase history, and that Muse appears to harvest login credentials and scrape account details without identifying itself as an automated tool.
Shopify CEO Tobias Lütke said the company is partnering deeply with Muse to enable agentic checkout with Shop Pay on all Shopify stores, while Meta Platforms CEO Mark Zuckerberg signaled more agentic checkout partnerships are coming. The next key data points will be whether other large storefronts follow Amazon's lead or open the door to Muse.