GitLab soars on plan for new AI-powered product

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GitLab soars on plan for new AI-powered product
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Shares of GitLab Inc jumped more than 35% on Tuesday after the software development platform announced plans to launch a revenue-boosting artificial intelligence (AI)-powered product.

GitLab Inc logo and words 'Artificial Intelligence' are seen in this illustration taken June 6, 2023. REUTERS/Dado Ruvic/Illustrationjumped more than 35% on Tuesday after the software development platform announced plans to launch a revenue-boosting artificial intelligence -powered product.

"The product ... has the potential to be a healthy growth driver in FY25," Bank of America analysts led by Koji Ikeda said in an investor note.

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