C3.ai, Inc. - AI STOCK NEWS

C3 AI (NYSE: AI), the Enterprise AI application software company, has announced it will release its financial results for the first quarter of fiscal year 2025, which ended July 31, 2024, after U.S. markets close on Wednesday, September 4, 2024. The company will host a conference call and webcast at 2:00 p.m. PDT / 5:00 p.m. EDT on the same day to discuss the results. Analysts and investors can participate in the Q&A session.

To join the call via telephone, participants must register for a personalized PIN code. A webcast option is also available. Both registration links and additional information can be found on the C3 AI Investor Relations website events page. An audio replay will be accessible for 30 days after the call.

C3 AI (NYSE: AI) has achieved the Amazon Web Services (AWS) Generative AI Competency, recognizing its expertise in implementing generative AI technologies. This achievement highlights C3 AI's proficiency in minimizing hallucinations, prompt engineering, model customization, and data privacy. C3 Generative AI, powered by AWS services including Amazon Bedrock, has demonstrated significant benefits for customers across various industries:

- Over 90% reduction in information retrieval time
- 20% reduction in downtime
- Improved efficiency in operations assistance, contracts analysis, due diligence, and financial data analysis
- Enhanced safety for manufacturing operations
- Rapid analysis of technical datasets, contracts, and intelligence

C3 Generative AI is now available in AWS Marketplace, offering a secure and efficient enterprise solution for digital transformation strategies.

C3 AI has launched C3 Generative AI for Government Programs, an application designed to help federal, state, and local governments provide accurate information about various public services. Running on Google Cloud, this AI-powered tool aims to streamline access to complex government programs, reduce service delays, and improve the citizen experience.

The application features an intuitive natural language search and chat interface, supporting queries in over 130 languages. It offers enterprise-level security, access controls, and full traceability. By leveraging Google Cloud's advanced Gemini language models, C3 Generative AI for Government Programs delivers accurate responses with source citations, helping users navigate services like the Affordable Care Act efficiently.

C3 AI (NYSE: AI) and Holcim are enhancing efficiency and sustainability through AI-powered technologies in urban building operations.

Since May 2023, Holcim deployed C3 AI Reliability, a predictive maintenance solution, to 45 plants globally, monitoring 3,000 sensors from critical equipment, including vertical roller mills essential for cement manufacturing.

This initiative is part of Holcim's Plants of Tomorrow program, aiming for digital transformation across 130 plants in over 50 countries. The collaboration has led to significant advancements in predictive maintenance, operational efficiency, asset lifecycle management, and reliability.

Additionally, Holcim is piloting C3 Generative AI to assist with complex equipment troubleshooting. The four-year agreement plans to onboard 1,200 critical assets across 100 cement plants, aiming to improve asset uptime and reduce maintenance costs.

C3 AI (NYSE: AI) has announced the appointment of former Speaker of the House, Kevin McCarthy, to its advisory board. McCarthy will guide C3 AI in expanding AI solutions across various government levels and fostering relationships with allied nations. He will provide strategic counsel for engaging with the federal government and identify collaboration opportunities with state and local leaders. McCarthy aims to enhance service levels in law enforcement, property assessment, benefits management, defense, and intelligence sectors. C3 AI's CEO, Thomas Siebel, emphasized McCarthy's invaluable experience and commitment to transformative AI solutions.

C3 AI (NYSE: AI) has announced that its Chairman and CEO, Thomas M. Siebel, will participate in a fireside chat at the Mizuho Americas Technology + Media + Telecom (TMT) Conference. The event is scheduled for June 12, 2024, from 11:15 am to 11:45 am ET. Interested parties can register to watch the livestream, and a replay will be accessible on the C3 AI Investor Relations website following the event.

Tekion, a leading cloud-native platform for the automotive retail ecosystem, has appointed Binu Mathew as its new Chief Technology Officer (CTO). Mathew brings 30 years of expertise in software product development and strategy, previously holding significant roles at C3 AI, Baker Hughes, Oracle, Hewlett Packard Enterprise, and Citicorp Overseas Software As CTO, Mathew will drive Tekion's technology strategy, focusing on scaling the platform, enhancing AI capabilities, and ensuring robust system security and reliability.

He will lead engineering, product management, and design teams, aiming to accelerate product development and align technological advancements with Tekion's business goals. CEO Jay Vijayan emphasized Mathew's role in meeting the automotive industry's demand for reliable generative AI and expanding Tekion's market presence.

C3 AI (NYSE: AI) announced strong fiscal Q4 and full-year 2024 financials ending April 30, 2024. Quarterly revenue grew 20% YoY to $86.6M, with subscription revenue up 41% to $79.9M. Full-year revenue increased by 16% to $310.6M. GAAP gross profit margins were 60% for the quarter and 57% for the year, while non-GAAP gross margins were higher at 70% and 69%, respectively. However, the company reported GAAP net losses per share of $(0.59) for the quarter and $(2.34) for the year. Positive free cash flow was $18.8M, and cash reserves totaled $750.4M.

Key business highlights include entering 191 agreements in FY24, including notable clients like ExxonMobil and Dow, and achieving significant federal sector growth with revenue more than doubling. C3 AI also advanced its generative AI applications, closing 58 pilot agreements across 15 industries. The company expects further revenue growth acceleration to 23% in FY25.

C3 AI and Bloom Energy have announced a collaboration to integrate the C3 AI Reliability Suite into Bloom Energy's fuel cell systems.

This integration aims to enhance operational excellence, reliability, and energy output. Bloom Energy, which monitors over a billion real-time data points daily, will use AI to provide precise modeling and timely recommendations to improve fuel cell performance.

The collaboration aims to drive innovation, reduce costs, and maximize the potential of Bloom's fuel cell platform, ultimately enhancing customer satisfaction and operational efficiency.