Artificial intelligence (AI) stocks are experiencing a surge, with C3.AI at the forefront. Despite reporting a quarterly loss of $63 million, or 57 cents per share, on March 2, the stock has risen 58%. The company has recently announced that it expects slightly higher revenue for the latest quarter, with projections of $72 million in revenue and a loss between $76 million and $77 million. AI shares rose 16% on May 26 and another 10% over the weekend, opening on May 30 at over $36 per share with a market capitalization of nearly $4 billion. Generative AI, which uses machine learning databases to output text, art, music, or code is becoming a critical component of the AI industry. Investors are pursuing everything with an AI link, despite C3.AI losing more money than its revenue. Previous investment trends in pot stocks, cryptocurrency, and special purpose acquisition companies (SPACs) have also been driven by irrational speculation.
C3.AI is an AI software company specializing in developing and implementing enterprise-scale AI applications. The company was founded by Thomas Siebel in 2009 and is based in Redwood City, California, USA. C3.AI’s main ambition is to provide its clients with solutions to extract actionable insights from their data using AI. The company’s industry sectors include energy, aerospace & defense, healthcare, and finance, among others.
Thomas Siebel, the founder of C3.AI, is an American entrepreneur and philanthropist. He is also the founder of Siebel Systems, one of the world’s first customer relationship management companies. Siebel is a graduate of the University of Illinois at Urbana-Champaign, where he earned a bachelor’s degree in history, an MBA from Harvard Business School, and an MS in computer science from Stanford University. In addition, he is a member of the American Academy of Arts and Sciences and serves on the board of the Hoover Institution at Stanford University.
