AI: C3.ai Stock Skyrockets 33% After Launch of Generative AI Products

The AI hype has lifted C3.ai’s valuation by 300% for the year through yesterday’s closing bell.

• C3.ai is on a tear. The software company is riding the AI trend to triple its valuation so far into the year. C3.ai, the brainchild of Silicon Valley billionaire Tom Siebel, posted a staggering 33% rise yesterday, bringing its stock AI to a valuation of just under $5bn.
• C3.ai is a fast-growing (apparently) AI software firm that helps businesses analyze gigantic amounts of data. Its latest product, unveiled yesterday (hence the rally), is called C3 Generative AI and is now available on the AWS Marketplace – Amazon’s platform for software tools.
• Prior to the release, the 70-year-old founder touted C3 Generative AI as the product to change the human-computer interface and likened its launch to the iPhone moment. This fresh “Buy Everything with AI in Its Name” bonanza propelled other AI plays, including Palantir PLTR, which rose 7.77% on Tuesday.