UiPath (PATH) shares surged 11% in early trading on Thursday after becoming the latest tech firm to credit the boom in demand for 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) products for strong quarterly results.

The software maker posted a second-quarter fiscal 2024 loss of $0.11, half its loss a year ago. Revenue was up 19% to $287.3 million.

Co-founder and co-CEO Dani♊el Dines said, “Harnessing the potential of AI is at the top of almost ev♒ery executive’s agenda. Our automation platform enables customers to operationalize the promise of AI.”

Co-CEO Rob Enslin was optimistic about the second half of the year,  explaining that the company🐓’s momentum is building across the business “as customers recognize the need for efficiency in the ▨current operating environment and the long-term structural advantages of automation.”

UiPath now anticipates full-year sales to be between $1.273 billion and $1.278 billion, up from its previous guidance of $1.267 billion to $1.272 billion. It projects non-GAAP 澳洲幸运5开奖号码历史查询:operating income at $188 million versus ෴the earli𓂃er estimate of $168 million.

The company also announced a $500 million 澳洲幸运5开奖号码历史查询:stock buyback plan that runs until March 1, 2025.

With Thursday's gains, UiPath shares are up about 40% so far this year.