C3.ai, Inc. - AI STOCK NEWS

C3 AI (NYSE: AI) has been recognized by The Financial Times as one of the Fastest Growing Companies of 2023, marking its third consecutive year on this list. This accolade highlights C3 AI's significant progress in ramping its consumption-based sales efforts, contributing to substantial growth and momentum over the past year. CEO Thomas M. Siebel emphasized the trust customers and partners have in the company's software and capabilities, which positions C3 AI for a leading role in the Enterprise AI market. The ranking was determined based on the highest compound annual growth in revenues from 2018 to 2021.

C3 AI, a leader in Enterprise AI applications, has appointed General (Ret.) John E. Hyten as Special Advisor to CEO Thomas M. Siebel. Hyten has joined the advisory board in June 2022 and brings 40 years of experience from the U.S. Air Force, including roles in the Joint Chiefs of Staff. His expertise is expected to enhance C3 AI's engagement with U.S. defense and intelligence agencies. Hyten remarked on the impressive nature of C3 AI’s technology in transforming the defense sector. This move underscores C3 AI's commitment to advancing AI capabilities critical for national security.

C3.ai, the Enterprise AI application software company, reported fiscal Q3 2023 revenue of $66.7 million, surpassing guidance of $63.0 million to $65.0 million. Subscription revenue accounted for 85.6% of total revenue at $57.0 million. The company aims to be cash positive and non-GAAP profitable by the end of FY 2024. With 236 customers and $789.8 million in cash reserves, they are well-positioned for growth despite a GAAP net loss per share of $(0.57). Partnerships with Google Cloud, AWS, and Baker Hughes expanded, contributing to a strong pipeline of opportunities. Guidance for Q4 2023 forecasts revenue of $70 - $72 million.

C3 AI has announced the appointment of KR Sridhar, founder and CEO of Bloom Energy, to its Board of Directors. This strategic move aims to bolster C3 AI's commitment to addressing energy and sustainability challenges through enterprise AI solutions. Sridhar's extensive experience in the clean energy sector is expected to enhance the company's leadership in digital transformation. C3 AI provides a range of integrated products designed to facilitate organizations' transitions toward sustainable practices.

C3 AI (NYSE: AI) has expanded its Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to enhance artificial intelligence solutions for various industries, including defense and local government. This collaboration aims to eliminate data silos and improve operational efficiency by integrating C3 AI applications with AWS services. The partnership, which began in 2016, leverages AWS's scalable resources to provide industry-specific AI applications that address customers' critical business challenges. All six of C3 AI's application suites are now available on the AWS Marketplace.

C3 AI (NYSE: AI) has secured a contract with Intelligent Waves LLC to provide critical AI applications for the U.S. Air Force's Crowd-Sourced Flight Data Program, enhancing capabilities for the F-35A fighter aircraft. This initiative aims to accelerate software deployment, leveraging vast amounts of high-fidelity data from operational aircraft. The program seeks to quickly identify and resolve anomalies, minimizing risks before these systems enter combat. C3 AI's involvement is expected to facilitate advancements across various weapon systems, strengthening U.S. military capabilities. C3 AI continues to focus on delivering integrated AI software solutions to bolster enterprise operations.

C3 AI (NYSE: AI) has announced it will release its financial results for the fiscal third quarter ended January 31, 2023, on March 2, 2023, post U.S. market closure. A conference call will be held at 2:00 p.m. PDT/5:00 p.m. EDT to discuss these results, allowing analysts and investors to participate in a Q&A session. Access to the call can be done through a registration link for both telephone and webcast options. The audio replay will be available shortly after the call and will remain accessible for 30 days on the C3 AI Investor Relations website.

C3 AI (NYSE: AI) announced the launch of its C3 Generative AI Product Suite, starting with C3 Generative AI for Enterprise Search. This product facilitates a natural language interface for enterprise users to efficiently access data across their systems. The suite integrates advanced AI models from organizations like OpenAI and Google, and aims to transform enterprise computing. Scheduled for general release in March 2023, the product will debut at the C3 Transform conference on March 7, 2023. The technology has been described as 'game changing' by notable figures like Lt. Gen. Ed Cardon (Ret.), emphasizing its potential benefits for the U.S. Department of Defense and intelligence community.