Mark Your Calendars for June 22: AI Stock Fans, Get Ready for This!

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Mark your calendars for June 22, as this is when C3.AI will be reporting its quarterly results. The AI stock is currently trading in pre-market at approximately $45 per share, with a market capitalization of over $5 billion on fiscal 2023 revenue of $266 million. This is not unusual as other AI stocks like Palantir Technologies (NASDAQ:PLTR) are also trading at double-digit multiples to revenue.

It is currently the biggest tech companies that have benefitted the most from the AI boom. However, very few examples of clear business success have appeared thus far. Some companies involved in generative AI today may justify huge valuations. Amazon (NASDAQ:AMZN) traded at nearly $300 during the peak of the 1990s Dot-Com Bubble, and those who remained with it afterward saw huge profits.

But most companies from that era disappeared. Even those that survived, like Cisco Systems (NASDAQ:CSCO) and Intel (NASDAQ:INTC), are no longer what they were.

C3.AI is one of the few companies that benefit from CEO Thomas Siebel’s experience of going through that era and coming out on the other side. He did this by getting into the next big boom, database-driven applications, and founded C3.AI after selling that business, Siebel Systems, to Oracle (NASDAQ:ORCL).

Oracle is another business from that era that has since prospered. It didn’t return to its year 2000 peak of $45/share until 2018. However, it now trades at $125 after investing heavily in cloud data centers. Oracle would also be a good candidate to buy C3.AI on weakness.

Most C3.AI revenue comes from what is called the Machine Internet. Improved industrial processes through the use of sensors, networks, and software are a proven niche. C3.AI reportedly earns almost one-third of its revenue from Baker Hughes (NYSE:BKR), the oilfield company. Since March, when short-seller Kerrisdale Capital accused C3.AI of irregularities, the stock has risen 56%, with most of the gain coming in the last month.

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As with every major business trend, there will be failures and successes for the ride. C3.AI’s performance in the future is not yet clear. Nonetheless, for now, investors seem to have confidence in its leadership.

Frequently Asked Questions (FAQs) Related to the Above News

When will C3.AI be reporting its quarterly results?

C3.AI will be reporting its quarterly results on June 22.

What is the current trading price for C3.AI?

C3.AI is currently trading in pre-market at approximately $45 per share.

What is C3.AI's market capitalization?

C3.AI's market capitalization is over $5 billion.

What is C3.AI's fiscal 2023 revenue?

C3.AI's fiscal 2023 revenue is $266 million.

What is the AI stock market like?

AI stocks like C3.AI and Palantir Technologies are currently trading at double-digit multiples to revenue.

What are some of the biggest tech companies benefiting from the AI boom?

Some of the biggest tech companies benefiting from the AI boom include Amazon and Oracle.

Who is the CEO of C3.AI?

The CEO of C3.AI is Thomas Siebel.

What experience does Thomas Siebel have?

Thomas Siebel has experience in going through the Dot-Com Bubble era and coming out on the other side. He founded Siebel Systems and later C3.AI after selling his previous business to Oracle.

What is C3.AI's main source of revenue?

C3.AI's main source of revenue comes from what is called the Machine Internet, particularly improved industrial processes through the use of sensors, networks, and software.

What company does C3.AI reportedly earn almost one-third of its revenue from?

C3.AI reportedly earns almost one-third of its revenue from Baker Hughes, the oilfield company.

What happened to C3.AI's stock following short-seller Kerrisdale Capital's accusations of irregularities?

Since the accusations, C3.AI's stock has risen 56%, with most of the gain coming in the last month.

Will C3.AI's future performance remain strong?

It is unclear whether C3.AI's future performance will remain strong. However, for now, investors seem to have confidence in its leadership.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

Meera Mehta
Meera Mehta
Meera is our dedicated writer and manager for the AI Stocks category. With her expertise in finance and a deep interest in the AI industry, Meera keeps a close eye on AI-related stocks and market trends. Her articles provide valuable insights into the financial aspects of AI, helping investors navigate this exciting and dynamic sector.

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