C3.ai, Inc. - AI STOCK NEWS

C3 AI has secured its first three orders under a five-year, $500 million Production Agreement with the U.S. Missile Defense Agency (MDA). These orders will leverage the C3 AI Platform to enhance enterprise AI capabilities across the Department of Defense. The first order focuses on generating threat representations using machine learning, while the second will integrate test data for missile defense evaluations. The third order aims to optimize the Ground Test process. This collaboration is vital for improving missile defense systems.

C3 AI (NYSE: AI) has formed a strategic alliance with Booz Allen Hamilton, aiming to provide federal clients with advanced AI solutions. This partnership will leverage Booz Allen's expertise in federal AI services and C3 AI's applications to enhance digital transformation and mission readiness in U.S. government agencies. The collaboration will focus on delivering AI-based software, consultation, and training services to tackle pressing challenges faced by defense and civilian sectors. Both companies are set to simplify AI deployment for government operations.

C3.ai reported strong financial results for the fiscal second quarter ended October 31, 2022, with subscription revenue growth of 26% year-over-year. Total revenue increased to $62.4 million, a 7% rise from the previous year. The company transitioned to a consumption-based sales model, contributing to growth prospects. Although GAAP net loss per share widened to $(0.63), improvements in non-GAAP metrics were noted. Cash reserves stood at $858.8 million. Guidance for Q3 revenue is projected between $63.0-$65.0 million.

C3 AI (NYSE: AI), a leader in Enterprise AI application software, has scheduled presentations at two key industry conferences. Chairman and CEO Tom Siebel will speak at the Needham Virtual Big Data and Infrastructure Conference on November 16, 2022, at 8:45 am EST, and at the Barclays Global Technology, Media and Telecommunications Conference on December 8, 2022, at 4:20 pm EST. Both presentations will be available for live webcast on the C3 AI Investor Relations website, with replays accessible for 90 days thereafter.

C3 AI (NYSE: AI) has announced the addition of seven new members to the Open AI Energy Initiative (OAI), enhancing its ecosystem with diverse expertise. The new members, including Aligned Automation, Infosys, EPAM Systems, Wipro, KBC, Akselos, and Databricks, aim to provide innovative AI-based solutions for the energy sector. This expansion will introduce a new modeling and simulation category, further aiding the energy industry's optimization and cost reduction efforts.

C3 AI (NYSE: AI) will report its financial results for the fiscal second quarter ending October 31, 2022, on December 7, 2022, after U.S. market close. A conference call will follow at 2:00 p.m. PDT, where analysts and investors can engage in a Q&A session. Participants must register to receive dial-in details. A live webcast will be available on the C3 AI Investor Relations website, and an audio replay will be accessible for 30 days post-call.

New York Governor Kathy Hochul mandates 100% clean electricity for state agencies by 2030 through an executive order. This effort leverages the NY Power Authority's NY Energy Manager application, developed in collaboration with C3 AI (NYSE: AI). The platform, already deployed to about 1,000 customers, will serve as the official system for energy data across state agencies. C3 AI's Energy Management solution supports real-time tracking of energy use and greenhouse gas emissions, aligning with rising environmental, social, and governance (ESG) demands.