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.
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.
C3 AI has announced a significant three-year expansion of its partnership with Google Cloud, aimed at enhancing their joint selling and co-development efforts. This partnership allows C3 AI's full suite of enterprise AI applications to be available on Google Cloud, targeting Fortune 2000 companies. The collaboration will include the development of new AI-driven applications utilizing Google Cloud's advanced capabilities. The partnership underscores their initial success and aims to optimize areas like supply chains and sustainability.
C3 AI (NYSE: AI) has announced the AI Defense Forum scheduled for September 8 in Pentagon City, Virginia. This event aims to accelerate AI adoption within national security, featuring leaders from government, academia, and industry. Keynote speakers include C3 AI's CEO Thomas M. Siebel and several retired military generals. The forum will address strategic imperatives and successful AI deployments relevant to the Department of Defense's modernization efforts in enhancing equipment readiness and battlefield data synthesis.
C3.ai reported a 25% year-over-year revenue growth for Q1 FY 2023, totaling $65.3 million, marking the seventh consecutive quarter of meeting or exceeding revenue guidance. The company is transitioning to a consumption-based pricing model, aligning with industry trends to enhance growth and profitability.
Despite a GAAP net loss per share of $(0.67), improvements in gross profit margins and cash reserves of over $930 million position C3 AI favorably against market challenges. The company aims for non-GAAP profitability by FY 2024.
C3.ai, a leader in Enterprise AI application software, announced upcoming presentations at two key conferences. The company's CTO and CFO will present at the Deutsche Bank Technology Conference on September 1, 2022, at 11:45 am PDT, while the CEO and CFO will speak at the Piper Sandler Growth Frontiers Conference on September 13, 2022, at 9:30 am PDT. Both events will be available for live streaming on the C3 AI Investor Relations website, with replays accessible for 90 days. C3.ai continues to innovate with its integrated AI products.
C3.ai, Inc. (NYSE: AI) will release its fiscal first quarter financial results on August 31, 2022, after U.S. markets close. A conference call to discuss these results is scheduled for 2:00 p.m. PDT / 5:00 p.m. EDT the same day. Participants are required to register for the call through a provided link to receive their dial-in number and personalized PIN. Webcast details will be accessible on the C3.ai Investor Relations website, with a replay available after the call for 30 days.
C3 AI (NYSE: AI) has been ranked a Leader in AI and Machine Learning Platforms by Forrester Research in their July 2022 report. This recognition highlights C3 AI's comprehensive strategy for enterprise AI, which includes a library of industry-specific solutions and deep partnerships. C3 AI achieved the highest possible scores in several categories, including Product Vision and Application Tools. CEO Thomas Siebel emphasized the significance of this acknowledgment in advancing enterprise AI adoption and simplifying decision-making for potential clients.
FAQ
What is the current stock price of C3.ai (AI)?
What is the market cap of C3.ai (AI)?
What is the core business of C3.ai, Inc.?
What are the main products offered by C3.ai?
Which industries does C3.ai serve?
What financial performance did C3.ai report for fiscal year 2024?
Who are some of C3.ai’s notable partners?
What is C3 Transform?
How does C3.ai support federal and defense sectors?
What innovative products has C3.ai recently introduced?
What is the focus of C3.ai’s product development?
What are some key achievements of C3.ai in recent years?
