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C3.ai, Inc. develops enterprise artificial intelligence application software for organizations deploying AI across large data environments. Company news centers on the C3 Agentic AI Platform, C3 AI Applications, C3 Generative AI, and C3 Code, along with SaaS revenue trends, product availability, and customer deployments in government, defense, energy, manufacturing, life sciences, and other enterprise markets.
Recurring updates also cover strategic integrator relationships, public-sector authorizations such as FedRAMP, AI logistics and field-service applications, customer agreements, quarterly results, and investor conference participation. These developments reflect the company’s focus on governed, domain-specific AI applications built for enterprise and government use cases.
C3 AI (NYSE: AI) has announced the appointment of former Speaker of the House, Kevin McCarthy, to its advisory board. McCarthy will guide C3 AI in expanding AI solutions across various government levels and fostering relationships with allied nations. He will provide strategic counsel for engaging with the federal government and identify collaboration opportunities with state and local leaders. McCarthy aims to enhance service levels in law enforcement, property assessment, benefits management, defense, and intelligence sectors. C3 AI's CEO, Thomas Siebel, emphasized McCarthy's invaluable experience and commitment to transformative AI solutions.
C3 AI (NYSE: AI) has announced that its Chairman and CEO, Thomas M. Siebel, will participate in a fireside chat at the Mizuho Americas Technology + Media + Telecom (TMT) Conference. The event is scheduled for June 12, 2024, from 11:15 am to 11:45 am ET. Interested parties can register to watch the livestream, and a replay will be accessible on the C3 AI Investor Relations website following the event.
Tekion, a leading cloud-native platform for the automotive retail ecosystem, has appointed Binu Mathew as its new Chief Technology Officer (CTO). Mathew brings 30 years of expertise in software product development and strategy, previously holding significant roles at C3 AI, Baker Hughes, Oracle, Hewlett Packard Enterprise, and Citicorp Overseas Software As CTO, Mathew will drive Tekion's technology strategy, focusing on scaling the platform, enhancing AI capabilities, and ensuring robust system security and reliability.
He will lead engineering, product management, and design teams, aiming to accelerate product development and align technological advancements with Tekion's business goals. CEO Jay Vijayan emphasized Mathew's role in meeting the automotive industry's demand for reliable generative AI and expanding Tekion's market presence.
C3 AI (NYSE: AI) announced strong fiscal Q4 and full-year 2024 financials ending April 30, 2024. Quarterly revenue grew 20% YoY to $86.6M, with subscription revenue up 41% to $79.9M. Full-year revenue increased by 16% to $310.6M. GAAP gross profit margins were 60% for the quarter and 57% for the year, while non-GAAP gross margins were higher at 70% and 69%, respectively. However, the company reported GAAP net losses per share of $(0.59) for the quarter and $(2.34) for the year. Positive free cash flow was $18.8M, and cash reserves totaled $750.4M.
Key business highlights include entering 191 agreements in FY24, including notable clients like ExxonMobil and Dow, and achieving significant federal sector growth with revenue more than doubling. C3 AI also advanced its generative AI applications, closing 58 pilot agreements across 15 industries. The company expects further revenue growth acceleration to 23% in FY25.
C3 AI and Bloom Energy have announced a collaboration to integrate the C3 AI Reliability Suite into Bloom Energy's fuel cell systems.
This integration aims to enhance operational excellence, reliability, and energy output. Bloom Energy, which monitors over a billion real-time data points daily, will use AI to provide precise modeling and timely recommendations to improve fuel cell performance.
The collaboration aims to drive innovation, reduce costs, and maximize the potential of Bloom's fuel cell platform, ultimately enhancing customer satisfaction and operational efficiency.
C3 AI, an Enterprise AI application software company, will announce its financial results for the fiscal fourth quarter and full fiscal year 2024 on May 29, 2024. The company will host a conference call and webcast to discuss the financial results. Analysts and investors can participate in the question-and-answer session.
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