C3.ai, Inc. - AI STOCK NEWS

Data Vault Holdings Inc. appointed Tony Evans, General Manager of Financial Services for C3 AI (NYSE: AI), to its advisory board, enhancing its expertise in artificial intelligence, machine learning, and fintech. Mr. Evans brings extensive experience in business strategy and customer-focused innovations across multiple sectors, focusing on automation and scaling of crypto data solutions. Data Vault is finalizing the consolidation of its affiliates under one corporate structure and plans to announce more advisory members soon, aiming to bolster its market insights and data monetization strategies.

C3.ai, Inc. (NYSE: AI) announced its participation in the 24th Annual Needham Virtual Growth Conference, scheduled for January 11, 2022, at 1:15 p.m. Pacific Time (4:15 p.m. Eastern Time). Interested parties can access the live webcast on the C3.ai investor relations website, with a replay available for 90 days post-event. C3.ai specializes in enterprise AI software, offering a comprehensive suite of integrated products designed to support organizations in their digital transformation.

C3.ai Digital Transformation Institute has announced a call for proposals aimed at enhancing cybersecurity through advanced AI research. The initiative focuses on developing innovative techniques to combat malware, ransomware, and other cyber threats. A total of up to $10 million in funding is available, with individual awards ranging from $100,000 to $1 million. Proposals are due by February 7, 2022, and winners will be announced in March 2022. This effort is backed by significant contributions from C3 AI and Microsoft, emphasizing a collaborative approach to improve critical infrastructure security.

C3.ai, Inc. (NYSE: AI) has appointed Lisa A. Davis to its Board of Directors, enhancing its expertise in the energy and industrial sectors. With over 30 years of experience from major companies like Siemens and Shell, Davis is expected to support C3 AI’s growth and digital transformation initiatives. The firm also announced the resignation of Lorenzo Simonelli from the board, effective December 17, 2021. Simonelli will maintain involvement through the ongoing BakerHughesC3.ai partnership.

C3 AI (NYSE: AI) has appointed retired Lieutenant General H.R. McMaster to its advisory board, enhancing its leadership in enterprise AI focused on national security. McMaster, who previously served as the 26th National Security Advisor, brings over three decades of military and strategic experience. C3 AI CEO Thomas M. Siebel emphasized McMaster's potential to provide invaluable insights for the company's mission to improve defense capabilities. McMaster is active in academic and policy institutions, further contributing to C3 AI's objectives.

C3.ai, Inc. (NYSE: AI) announced a stock repurchase program of up to $100 million for its class A common stock over the next 18 months. The initiative aims to create long-term value while still allowing for growth investments. As of the end of Q2 FY2022, C3 AI reported approximately $1.1 billion in cash and investments. The repurchase will depend on market conditions and is not an obligation, allowing C3 AI to modify, extend, or discontinue the program at its discretion.

C3.ai (NYSE:AI) has secured a five-year Production-Other Transaction Agreement with the U.S. Department of Defense (DoD). This partnership allows accelerated acquisition of C3 AI’s Enterprise AI products, enabling the DoD to enhance its modeling and simulation capabilities across multiple agencies. The agreement aims to bolster the DoD's AI capabilities to counter emerging threats. CEO Thomas M. Siebel expressed enthusiasm for this milestone, emphasizing the significance of the agreement in advancing operations and sustainment initiatives within the federal government.

C3.ai reported a strong fiscal second quarter ending October 31, 2021, with revenue of $58.3 million, a 41% year-over-year increase, exceeding guidance. The company raised its full-year revenue growth forecast to 35%-37% from 17%. Subscription revenue rose 32% to $47.4 million. C3.ai expanded its strategic partnership with Baker Hughes, increasing contract value by $45 million to $495 million. RPO grew substantially, with GAAP RPO at $465.5 million. Despite a net loss per share of $(0.55), results surpassed expectations. C3.ai continues to diversify its customer base and industry footprint.

C3 AI (NYSE: AI), a leader in Enterprise AI application software, announced participation in two upcoming investor conferences. The first presentation at KeyBanc Summit @ AWS Re:Invent is slated for November 29, 2021, at 1:00 PM Pacific Time. The second presentation at the 5th Annual Wells Fargo TMT Summit is scheduled for December 2, 2021, at 10:20 AM Pacific Time. Live webcasts of both events will be available on the company's investor relations page, with replays accessible for 90 days.