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C3.ai, Inc. (NYSE: AI) is a prominent player in the realm of enterprise artificial intelligence (AI). Based in Redwood City, California, the company offers a wide array of products and services designed to accelerate digital transformation across industries. C3 AI's core offering is the C3 AI Platform, an end-to-end solution for developing, deploying, and operating large-scale enterprise AI applications. This platform is supplemented by C3 AI Applications, a suite of industry-specific, turnkey SaaS solutions that address unique business needs, and C3 Generative AI, a collection of advanced AI transformer models.
The company’s innovative approach has garnered significant traction across diverse industries, from manufacturing and healthcare to federal government and energy sectors. Some notable partnerships include collaborations with industry giants like Genentech, ExxonMobil, and Dow. These partnerships leverage C3 AI's capabilities to enhance operational efficiencies, predictive maintenance, and data-driven decision-making.
Financially, C3.ai has demonstrated robust growth. For the fiscal year 2024, the company reported a 16% year-over-year revenue increase to $310.6 million, with subscription revenue growing 21% to $278.1 million. The company's strategic focus on expanding its federal business has paid off, with federal revenue more than doubling in FY24. Additionally, C3 AI has maintained a strong cash reserve of $750.4 million, positioning it well for future growth.
C3.ai continues to innovate and lead in the AI space with the introduction of products like C3 Generative AI. The company’s commitment to driving digital transformation is evident in its expansive pilot programs and growing partner network, which includes collaborations with AWS, Google Cloud, and Microsoft Azure. C3.ai’s fifth annual AI conference, C3 Transform, exemplifies its thought leadership, bringing together global experts to discuss the future of AI in business.
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.
C3 AI (NYSE: AI) has entered into a multi-year agreement with Yokogawa Electric Corporation (TOKYO: 6841) to integrate the C3 AI Suite into Yokogawa's software portfolio. This collaboration aims to enhance AI applications and support Yokogawa's digital transformation strategies across various industries, including power generation and oil & gas. Both companies anticipate that this partnership will boost operational efficiency and create new business opportunities. Moreover, this agreement allows C3 AI to establish a direct presence in Japan.
C3 AI (NYSE: AI) announced its President and Chief Product Officer, Houman Behzadi, will present at the FIS Securities, Derivatives and Tax Processing Virtual Event on March 9, 2021. Mr. Behzadi will be part of a Thought Leadership panel discussing the role of advanced technology, including machine learning and artificial intelligence, in capital markets. The event is scheduled from 8:55 to 10:00 AM EST. For more information, visit the event link.
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