(Reuters) -Shares of C.H. Robinson surged more than 20% to a record high on Thursday as investors cheered the global freight forwarder’s quarterly profit beat due to AI-driven efficiencies at a time when the rest of the logistics sector has struggled.

The U.S.’s largest freight broker has been using artificial intelligence to automate tasks such as generating shipping quotes, scheduling pickups and deliveries and tracking shipments. This has helped speed up its operations and reduce reliance on manual work.

“We believe that CHRW’s scale and first mover advantage will allow for continued productivity and share gains in the coming years, and management has shown its operating model is differentiated,” Stephens analyst Reed Seay said in a note.

The company’s adjusted profit of $1.40 per sh

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