GTLB: GitLab Stock Surges 31% as It Plays Up AI Credentials in Earnings Report

The software firm is looking to convince investors it is ready to soak up all that AI demand with its platform.

• GitLab, a DevSecOps platform, popped more than 31% on Tuesday, erasing its losses for the past three months. What powered the stock GTLB, was the company’s latest earnings data, or more precisely its forward-looking guidance. You know what we are going to say next, right?
• AI-powered tools, AI software, and AI programs are in the works. GitLab CEO Sid Sijbrandij said the company is positioning to become the leading DevSecOps when it comes to artificial intelligence capabilities. Investors were happy with what they read as the stock rallied.
• What’s in store? Increased productivity, better efficiency, seamless automation, and other buzzwords to spark enthusiasm. For now, GitLab posted an adjusted loss of 6 cents a share in its fiscal first quarter. For Q2, the company expects to rake in revenue of between $129mn and $130mn.