GitLab shares rise on stronger AI outlook, 350 layoffs announced
GitLab shares climbed about 7% in late trading Tuesday, after the software-development platform reported stronger-than-expected sales and lifted its annual outlook. This comes as investors look to see if its AI strategy can drive demand or just shift it. The stock had closed regular hours down 5.8% at $31.82. Investors want to know if AI coding tools can boost developer output and support demand for paid software. GitLab is now pitching its Duo Agent Platform, which gives developers access to AI agents for software tasks, as one solution. The company is under pressure to prove its case.