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C3.AI, Inc. (NYSE: AI) delivers enterprise-grade artificial intelligence solutions through its model-driven platform and industry-specific applications. This news hub provides investors and professionals with official updates on the company’s strategic initiatives, product developments, and market positioning.
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C3 AI (NYSE: AI) has appointed retired Lieutenant General H.R. McMaster to its advisory board, enhancing its leadership in enterprise AI focused on national security. McMaster, who previously served as the 26th National Security Advisor, brings over three decades of military and strategic experience. C3 AI CEO Thomas M. Siebel emphasized McMaster's potential to provide invaluable insights for the company's mission to improve defense capabilities. McMaster is active in academic and policy institutions, further contributing to C3 AI's objectives.
C3.ai, Inc. (NYSE: AI) announced a stock repurchase program of up to $100 million for its class A common stock over the next 18 months. The initiative aims to create long-term value while still allowing for growth investments. As of the end of Q2 FY2022, C3 AI reported approximately $1.1 billion in cash and investments. The repurchase will depend on market conditions and is not an obligation, allowing C3 AI to modify, extend, or discontinue the program at its discretion.
C3.ai (NYSE:AI) has secured a five-year Production-Other Transaction Agreement with the U.S. Department of Defense (DoD). This partnership allows accelerated acquisition of C3 AI’s Enterprise AI products, enabling the DoD to enhance its modeling and simulation capabilities across multiple agencies. The agreement aims to bolster the DoD's AI capabilities to counter emerging threats. CEO Thomas M. Siebel expressed enthusiasm for this milestone, emphasizing the significance of the agreement in advancing operations and sustainment initiatives within the federal government.
C3.ai reported a strong fiscal second quarter ending October 31, 2021, with revenue of $58.3 million, a 41% year-over-year increase, exceeding guidance. The company raised its full-year revenue growth forecast to 35%-37% from 17%. Subscription revenue rose 32% to $47.4 million. C3.ai expanded its strategic partnership with Baker Hughes, increasing contract value by $45 million to $495 million. RPO grew substantially, with GAAP RPO at $465.5 million. Despite a net loss per share of $(0.55), results surpassed expectations. C3.ai continues to diversify its customer base and industry footprint.
C3 AI (NYSE: AI), a leader in Enterprise AI application software, announced participation in two upcoming investor conferences. The first presentation at KeyBanc Summit @ AWS Re:Invent is slated for November 29, 2021, at 1:00 PM Pacific Time. The second presentation at the 5th Annual Wells Fargo TMT Summit is scheduled for December 2, 2021, at 10:20 AM Pacific Time. Live webcasts of both events will be available on the company's investor relations page, with replays accessible for 90 days.
C3 AI (NYSE: AI) will release its financial results for the second quarter of fiscal year 2022 on December 1, 2021, after U.S. markets close. The results will cover the period ending October 31, 2021. A conference call will be held at 2:00 PM PT / 5:00 PM ET on the same day to discuss these results. Investors can access the call via the C3 AI Investor Relations website or by dialing in using the provided participant numbers. This provides an opportunity for stakeholders to gain insights into the company's financial performance.
C3 AI and Shell have unveiled three new artificial intelligence products through the Open AI Initiative aimed at enhancing efficiency in the energy sector. These products include the Shell Process Optimiser for LNG, which improves asset production; the Shell Corrosion Advanced Risk Modelling and Analytics, which predicts corrosion to reduce maintenance costs; and the Shell Autonomous Integrity Recognition, enhancing inspection processes. These tools aim to accelerate the adoption of AI solutions in energy operations.
C3 AI and Shell have expanded the Open AI Energy Initiative (OAI) with Kongsberg Digital and MathWorks joining as independent software vendors. This initiative aims to integrate artificial intelligence solutions to transform the energy industry. Kongsberg Digital will offer the Kognitwin Energy, enhancing operational efficiency, while MathWorks will provide MATLAB Production Server for analytics and optimization. Solutions are expected to roll out in 2022, focusing on cleaner energy and compliance monitoring.
C3 AI (NYSE: AI) will present at the Bank of America Digital Energy Forum on September 30, 2021, at 8:30 a.m. Eastern Time. Interested parties can access the live webcast through ir.c3.ai, with a replay available for 90 days post-event. C3 AI specializes in Enterprise AI application software, offering comprehensive solutions for digital transformation across industries. Their products include the C3 AI Suite and industry-specific SaaS applications designed for AI and machine learning.
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