GitLab soars on plan for new AI-powered product

By Chibuike Oguh
FILE PHOTO Artificial Intelligence words are seen in this illustration taken March 31 2023. REUTERSDado RuvicIllustration.

FILE PHOTO: Artificial Intelligence words are seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration./

NEW YORK (Reuters) - 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, widely used by software developers for coding work, will add a "ModelOps" feature to its main "DevSecOps" platform with new capabilities including code writing suggestions. The product is expected to be launched this year at $9 per month, GitLab said late Monday.

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