C3.ai, Inc. - AI STOCK NEWS

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.

C3 AI (NYSE:AI) and Shell (NYSE:RDS) have renewed their strategic partnership for five years to enhance the deployment of AI and machine learning applications within Shell's operations. This agreement builds on the earlier launch of the Open AI Energy Initiative™ aimed at transforming the energy industry. The collaboration emphasizes the importance of enterprise AI in improving reliability, asset integrity, and process optimization across Shell's businesses. Key executives from both companies expressed optimism about leveraging AI for a cleaner energy future and digital transformation.

C3 AI (NYSE:AI) announces the appointment of Lieutenant General (Retired) Ed Cardon as Chair of C3 AI Federal Systems. With over 36 years in the U.S. Army, General Cardon will lead initiatives focusing on AI integration in defense, intelligence, and cyber defense. He previously commanded the Army Cyber Command and was pivotal in creating the Army Futures Command. C3 AI's CEO, Thomas M. Siebel, praised Cardon's extensive experience, while Cardon expressed excitement about C3 AI's commitment to innovation in enterprise AI and its role in supporting national priorities.

C3 AI (NYSE:AI) has partnered with Con Edison to implement multiple AI-powered applications aimed at enhancing energy efficiency. The applications, including Conservation Voltage Optimization (CVO), leverage data from Con Edison’s Advanced Metering Infrastructure to reduce energy use and carbon emissions. The CVO application alone could lead to a 1.5% energy savings over 20 years. Additionally, Con Edison is integrating massive datasets to create an analytics platform growing at 200 TB per year, showcasing the scalability of C3 AI's offerings.

C3 AI (NYSE:AI) announces the appointment of Tod Weber as Senior Vice President and General Manager of C3 AI Federal Systems. With over 35 years in the tech sector, Weber has extensive experience in delivering IT solutions to the federal government. Previously CEO of Software AG Government Solutions, he aims to enhance C3 AI's capabilities in providing enterprise AI solutions to U.S. government and defense industries. CEO Thomas M. Siebel highlights Weber's impressive background in advancing software technology, particularly in federal applications.

C3 AI announced that its Chairman and CEO, Tom Siebel, has joined the GridWise’s newly formed Grid Infrastructure Advisory Council (GIAC). This 29-member council, established by GridWise Alliance Board Chair Gil C. Quiniones, aims to push for at least $50 billion in Federal funding to modernize the U.S. electric power transmission and distribution systems. With the increasing challenges posed by climate change and other factors, the council will advocate for strategic investments in the power grid to enhance its resilience and efficiency.

C3 AI (NYSE:AI) announced it will release its fourth quarter and full year fiscal 2021 financial results on June 2, 2021, after U.S. market close. A conference call is scheduled for 2:00 p.m. PT / 5:00 p.m. ET on the same day to discuss these results. Investors can join the live webcast on the C3 AI Investor Relations website or via dial-in. C3 AI specializes in enterprise AI software aimed at enhancing digital transformation across industries, offering a comprehensive suite of products and solutions.

C3 AI (NYSE: AI), a leader in enterprise AI software, is set to present at several upcoming financial community events. These include the NYSE Tech Summit on May 11, 2021, the JP Morgan 49th Annual Technology, Media & Communications Conference on May 24, 2021, and the 2021 Bank of America Global Technology Conference on June 8, 2021. Live webcasts of the presentations will be available at ir.c3.ai, with replays accessible for 90 days post-event.