C3.ai, Inc. - AI STOCK NEWS

C3.ai Digital Transformation Institute announced the second round of awards aimed at leveraging AI for energy efficiency and a lower-carbon economy. From 52 proposals submitted, 21 projects received a total of $4.4 million in funding, along with access to significant computing resources. Projects span various categories including AI for carbon sequestration and advanced energy markets. With contributions from C3 AI and Microsoft totaling over $310 million in support, the institute aims to enhance resilience against climate-related threats through innovative research.

C3.ai Digital Transformation Institute announced its second round of awards focusing on AI techniques to enhance energy efficiency and reduce carbon footprints. Out of 52 submissions, 21 research proposals received funding, totaling $4.4 million. Each project can access substantial cloud computing resources. Award amounts ranged from $100,000 to $250,000, aimed at advancing sustainability, carbon sequestration, and cybersecurity in energy systems. C3.ai has committed over $57 million in cash and $310 million in resources to support this initiative, emphasizing the urgency for innovative solutions to energy and climate challenges.

C3 AI (NYSE: AI) has partnered with Snowflake, enhancing cloud-based data platform services for enterprise AI applications. This collaboration enables Snowflake users to access C3 AI's Suite and applications tailored for industries like manufacturing and finance.

The integration aims to improve data management and accelerate AI deployments, promoting operational efficiency and quicker insights without data replication. C3 AI's capabilities will allow customers to deploy applications at scale within four weeks, further solidifying Snowflake's position in enterprise AI.

Baker Hughes (NYSE: BKR) and C3 AI (NYSE: AI) announced that KBC will deploy AI technology to enhance its software for oil and gas simulation, supply chain optimization, and energy management. KBC aims to leverage BHC3 technology to improve operational efficiency, with potential economic value exceeding $0.65 per barrel. The integration will boost process planning accuracy and productivity. This collaboration underscores Baker Hughes' commitment to investing in digital transformation within the energy sector.

Baker Hughes (NYSE: BKR) and C3 AI (NYSE: AI) have forged a partnership with KBC, a subsidiary of Yokogawa Electric, to integrate artificial intelligence (AI) technology into KBC's software offerings. This collaboration aims to enhance oil and gas process simulations, supply chain optimization, and energy management. The enhanced software is expected to improve operational efficiency, yielding over $0.65 in economic value per barrel for KBC's customers. Leaders from both companies highlight the potential for digital transformation in the energy sector through this strategic integration.

C3 AI (NYSE:AI) announced significant growth for its no-code solution, C3 AI Ex Machina, which allows users to generate AI insights without coding. In its first full quarter, over 25 organizations, including Con Edison and Stanford Medicine, have adopted the solution. C3 AI Ex Machina facilitates data analysis and model building while offering capabilities for collaboration across teams. Recent upgrades have enhanced user experience with features like improved model evaluation and data integration options with various data stores. The company continues to expand its AI offerings to support diverse industries.

C3 AI (NYSE:AI) announces the appointment of Sam Alkharrat as President and Chief Revenue Officer. With extensive experience from VMware and SAP, Alkharrat is expected to spearhead the global expansion of C3 AI's sales and customer service. C3 AI aims to broaden its customer footprint and partner ecosystem across various sectors. CEO Thomas M. Siebel and former SAP co-CEO Jim Snabe emphasize Alkharrat's capability in scaling customer-centric organizations, viewing his leadership as pivotal for the company’s growth trajectory.

C3 AI, a leader in enterprise AI software, has expanded its agreement with the U.S. Air Force's Rapid Sustainment Office (RSO) to enhance predictive analytics for aircraft maintenance. This extension will deploy the C3 AI Suite to over 20 additional aircraft platforms within nine months. The partnership aims to improve mission capability and overall aircraft readiness, building on a relationship established in 2020. C3 AI's solutions have already shown efficiency in maintenance processes and increased aircraft availability, solidifying its position as a key AI partner for the USAF.

C3.ai, Inc. reported robust financial results for Q4 and FY 2021, with Q4 revenue of $52.3 million, a 26% year-over-year increase. Subscription revenue also rose to $43.1 million, up 17% year-over-year. The company’s gross profit was $40.6 million, representing a 78% gross margin. Total customers grew 82% year-over-year to 89. The company expanded partnerships in various sectors, including significant deployments with the US Air Force and Shell. However, it forecasts a non-GAAP loss from operations between $28 and $35 million for Q1 FY 2022.