US software developer GitLab is exploring a sale after attracting interest from several potential bidders, Reuters reported.
The company, which is backed by Google parent Alphabet, has reportedly received interest from cloud monitoring company Datadog.
Go deeper with GlobalData
GitLab creates tools for enterprises to manage their software development cycle and has over 30 million users.
Deals in the technology industry have been on the rise as companies look to expand their capabilities to keep ahead of the added efficiency of AI.
On 1 May, CoreWeave, a specalised cloud provider for AI, announced it had secured $1.1bn in new funding, led by Coatue.
The new funding will support rapid growth across all business areas, as well as aid CoreWeave’s expansion into new geographic regions to meet the growing global demand for GPU-accelerated cloud infrastructure.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“CoreWeave continues to push forward as a provider of critical infrastructure in the development of AI, and the high calibre of investors who continue putting their trust in us validates the enormous opportunity we have to define the next generation of cloud computing,” said Mike Intrator, co-founder and CEO of CoreWeave.
GlobalData forecasts that the overall AI market will be worth $909bn by 2030, having grown at a compound annual rate of 35% between 2022 and 2030.
In the GenAI space, revenues are expected to grow from $1.8bn in 2022, to $33bn in 2027, a CAGR of 80%.
