MercadoLibre Increases AI Spending by $30 Million From Prior Quarter

Nov 5, 2026
MercadoLibre increased its AI investment by $30 million from the prior quarter, citing gains in search, customer service, software development and finance operations.

MercadoLibre increased its artificial intelligence investment by $30 million from the prior quarter, according to PYMNTS. The company disclosed the increase alongside its third quarter results on November 4.

MercadoLibre said its AI usage grew faster than its spending. It attributed the difference to improved model selection and wider use of open source models. Revenue from adding a large language model to search exceeded the related model costs through higher conversion and click through rates.

Mago, the company’s fintech AI assistant, now holds 19 million conversations per month. MercadoLibre also said AI doubled the output of its technology teams over the past year and freed almost 20% of the hours worked by its finance teams.

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