GitLab Inc. stock increased more than 35% after the software development platform revealed intentions to provide a product driven by artificial intelligence (AI) that will increase sales.
A “ModelOps” tool with additional capabilities, such as code writing recommendations, will be added to GitLab’s core “DevSecOps” platform, which is often used by software engineers for coding work. According to GitLab, the product is anticipated to go on sale this year for $9 per month.
The product “has the potential to be a healthy growth driver in FY25,” according to Bank of America analysts under the direction of Koji Ikeda.
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