AI News Investors Probably Missed

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11. GitLab Inc. (NASDAQ:GTLB)

Number of Hedge Fund Holders: 39

GitLab Inc. (NASDAQ:GTLB) develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. The firm beat market expectations on earnings per share and revenue in the second quarter earnings, prompting analysts to take note of the growth in the AI space. Wells Fargo increased the price target on GitLab Inc. (NASDAQ:GTLB) stock, bumping it up to $75 from $70, and maintained an Overweight rating. The advisory also highlighted that the artificial intelligence offerings of the software firm were gaining momentum. Sid Sijbrandij, the CEO of GitLab, said during the earnings call that enterprises were now looking beyond code generation to integrate AI into all aspects of software development to deliver tangible results.

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