C3.ai, Inc. (NYSE: AI), a developer of artificial intelligence and machine learning applications, continues its double-digit growth and signs new contracts. C3.ai’s leadership has great long-term prospects, and some investors may see the current decline in stock prices as a time to jump in.
C3.ai, Inc. (AI) is one of the pioneers of enterprise artificial intelligence (AI) software. The company has a suite of AI tools such as predictive maintenance, which has become standard in many key industries such as aviation and energy.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
So, this week, C3.ai, Inc. (AI)i signed a new five-year contract, this time extended, with one of the largest private companies in the United States, Koch Industries. It will use the C3 AI platform to streamline production planning, procurement, and decision-making processes.
Koch Industries owns several manufacturing lines and uses artificial intelligence applications from C3.ai to make real-time predictions. This avoids problems with failed deliveries or other elements of Koch Industries’ business process.
C3.ai, Inc. (AI) has clients in a dozen different industries, but half of its revenue comes from the oil and gas sector. Shell notably uses the C3.ai software for the predictive analysis of data from a million sensors installed on thousands of pieces of equipment.
In the coming years, the fossil fuel market will experience strong growth and C3.ai, Inc. (AI) will be one of the beneficiaries of this trend. C3.ai also has defense contracts: in the first quarter of 2022, the company received a contract worth $500 million from the US Department of Defense.
In the last quarter, C3.ai’s revenue grew 38% year-over-year to $72.3 million and a similar growth rate is expected for the year with revenue of 252 $.8 million. C3.ai, Inc. (AI) has US$950 million in cash and cash equivalents.
Another look at the stock price also shows it trading +55.12% above its three-month low. Broader in scope, the stock is trading -69.22% below its 52-week high and 55.12% above its 52-week low price.
Another look at the stock price also shows it trading +55.12% above its three-month low. Broader in scope, the stock is trading -69.22% below its 52-week high and 55.12% above its 52-week low price.
