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C3.ai, Inc. - AI STOCK NEWS

Welcome to our dedicated page for C3.ai news (Ticker: AI), a resource for investors and traders seeking the latest updates and insights on C3.ai stock.

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.

News

C3 AI Announces CFO Leadership Transition

Rhea-AI Summary
C3 AI appoints Hitesh Lath as CFO, replacing Juho Parkkinen who transitions to VP of Finance. Lath brings two decades of finance and accounting experience from EY to guide the company's growth. CEO Thomas M. Siebel praises Parkkinen's contributions and welcomes Lath's leadership. The company's financial position is strong, with a focus on success in the enterprise AI sector.
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C3 AI Announces Third Quarter Fiscal 2024 Financial Results

Rhea-AI Summary
C3.ai, Inc. (NYSE: AI) reports strong fiscal Q3 2024 results with revenue exceeding guidance, reaching $78.4 million, a 18% YoY growth. Subscription revenue constituted 90% of total revenue, with a 23% increase YoY. The Company's GAAP gross profit was $45.3 million, with a 58% margin. C3 AI's net loss per share was $(0.60) GAAP and $(0.13) non-GAAP. The Company holds $723.3 million in cash reserves. Customer engagement grew by 80% YoY to 445. C3 AI closed 50 agreements in Q3, saw partner-supported bookings grow by 337% YoY, and diversified across industries. Notable partnerships include Boston Scientific, T-Mobile, and the U.S. Department of Defense. C3 AI's Federal business showed significant strength with over 100% YoY revenue increase. The Company also closed 17 C3 Generative AI pilots across various industries. Financial guidance for Q4 FY 2024 and full-year FY 2024 is optimistic.
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C3 AI Announces Fifth Annual AI Conference, C3 Transform 2024: Reshaping the World with Generative AI

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The press release discusses the impact of generative AI on the work landscape and the insights shared by AI experts.
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LatticeFlow AI Appoints Tom Ulrich as SVP and General Manager for North America

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LatticeFlow AI appoints Tom Ulrich as Senior Vice President and General Manager for North America, signaling strategic expansion into the US market. Tom brings over 25 years of experience in building and developing world-class sales teams for high-growth enterprise SaaS companies. His appointment follows a successful career at C3.AI and MicroStrategy, with a focus on scaling early to mid-stage tech companies into hyper-growth phases. Tom's expertise in predictive analytics and AI highlights his potential for propelling LatticeFlow AI's advancement.
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Genentech and C3 AI Improve the Complex Biologics Manufacturing Process with AI

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C3 AI (AI) announces Genentech's expanded use of C3 AI Reliability for predictive maintenance software on biologics manufacturing equipment, increasing uptime and lowering maintenance costs. The AI application is used to ensure the operational efficiency of complex biologics manufacturing, benefiting patients with difficult-to-treat diseases. Genentech has scaled its AI footprint to around 200 pieces of equipment and trained nearly 200 users on the C3 AI Platform.
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C3 AI to Announce Financial Results for the Third Quarter Fiscal Year 2024 on February 28, 2024

Rhea-AI Summary
C3.ai, Inc. to release fiscal third quarter financial results on February 28, 2024. The company will host a conference call and webcast to discuss the results. Analysts and investors can participate in the question-and-answer session. Access to the conference call and webcast is available through registration on the C3 AI Investor Relations website.
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C3 AI Announces Second Quarter Fiscal 2024 Financial Results

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C3 AI, Inc. (NYSE: AI) reported a 17% year-over-year increase in total revenue to $73.2 million for the fiscal second quarter ended October 31, 2023. Subscription revenue constituted 91% of the total revenue, reaching $66.4 million. The company's GAAP gross profit was $41.1 million, with a 56% gross margin, and a non-GAAP gross profit of $50.4 million, representing a 69% non-GAAP gross margin. C3 AI also announced a 81% year-over-year growth in customer engagement, reaching 404 customers. The company closed 62 agreements, including 36 pilots, and expanded agreements with key customers like GSK, Indorama, and First Business Bank. C3 AI also saw significant growth in its federal business, with federal bookings representing almost half of total bookings, and closing 20 new federal agreements. The company's generative AI offerings received unprecedented interest and traction, with 20 new agreements closed for C3 Generative AI in the second quarter.
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C3 AI Announces C3 Generative AI: AWS Marketplace Edition

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C3 AI (AI) announced the listing of its no-code, self-service generative AI application, C3 Generative AI: AWS Marketplace Edition, in AWS Marketplace. The application will be available for a 14-day free trial and aims to transform work for everyone by providing generative AI solutions to enterprise users. C3 AI CEO Thomas M. Siebel highlighted the company's commitment to innovation and leadership in Enterprise AI, emphasizing the importance of delivering powerful, secure, and built-for-the-enterprise solutions.
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C3 AI to Announce Financial Results for the Second Quarter Fiscal Year 2024 on December 6, 2023

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C3.ai, Inc. (NYSE: AI) to issue financial results for fiscal second quarter on December 6, 2023. The Enterprise AI application software company will host a conference call and webcast to discuss the results, with analysts and investors invited to participate in the Q&A session.
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C3 AI Expands Strategic Collaboration Agreement with AWS

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C3 AI (NYSE: AI) expands its Strategic Collaboration Agreement with Amazon Web Services (AWS) to develop advanced generative AI solutions for enterprises across multiple industries, including manufacturing, power & utilities, and consumer packaged goods. The collaboration aims to create a seamless onboarding process for shared customers to derive immediate value from generative AI.
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FAQ

What is the current stock price of C3.ai (AI)?

The current stock price of C3.ai (AI) is $34.99 as of November 21, 2024.

What is the market cap of C3.ai (AI)?

The market cap of C3.ai (AI) is approximately 4.3B.

What is the core business of C3.ai, Inc.?

C3.ai, Inc. provides software-as-a-service applications that enable customers to rapidly develop, deploy, and operate large-scale Enterprise AI applications across any infrastructure.

What are the main products offered by C3.ai?

C3.ai offers the C3 AI Platform, C3 AI Applications, and C3 Generative AI models, catering to various industry-specific needs and enabling the development and deployment of AI applications.

Which industries does C3.ai serve?

C3.ai serves a diverse range of industries including manufacturing, healthcare, energy, federal government, and more, providing tailored AI solutions to enhance operational efficiency and decision-making.

What financial performance did C3.ai report for fiscal year 2024?

For fiscal year 2024, C3.ai reported a 16% year-over-year increase in total revenue to $310.6 million, with subscription revenue growing 21% to $278.1 million.

Who are some of C3.ai’s notable partners?

C3.ai has partnered with major companies and organizations like Genentech, ExxonMobil, Dow, and several federal agencies, leveraging AI to drive efficiencies and innovation.

What is C3 Transform?

C3 Transform is C3.ai’s annual AI conference that gathers business leaders, technical experts, and customers to discuss enterprise AI innovation, performance, and value. It highlights the latest advancements and trends in AI.

How does C3.ai support federal and defense sectors?

C3.ai offers specialized AI solutions for the federal and defense sectors, including predictive maintenance and decision support systems. The company has secured significant contracts with the U.S. Department of Defense and other federal agencies.

What innovative products has C3.ai recently introduced?

C3.ai has introduced C3 Generative AI: Standard Edition, which is available on Google Cloud Marketplace. This no-code, self-service application allows users to access insights from enterprise data effortlessly.

What is the focus of C3.ai’s product development?

C3.ai focuses on developing enterprise AI applications that enhance efficiency, productivity, and data-driven decision-making across various industries, with a strong emphasis on scalable and secure AI solutions.

What are some key achievements of C3.ai in recent years?

Key achievements include significant revenue growth, expansion of federal business, successful partnerships with industry giants, and the introduction of innovative AI products like C3 Generative AI, positioning C3.ai as a leader in enterprise AI.

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C3.ai, Inc.

NYSE:AI

AI Rankings

#1410 Ranked by Market Cap
N/A Ranked by Dividends

AI Stock Data

4.31B
112.42M
8.99%
50%
18.22%
Software - Application
Services-prepackaged Software
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United States of America
REDWOOD CITY