Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, July 26, 2024

Article Excerpt

C3.AI Inc., $27.73, symbol AI on New York, makes software for corporations to speed up their deployment of artificial intelligence (AI) applications. The company was founded in 2009 by Thomas Siebel. Prior to founding C3.ai, he created Siebel Systems in 1993. That firm was a pioneer in the customer-relationship-management (CRM) software segment. In September 2005, Oracle Corporation (symbol ORCL on Nasdaq) acquired Siebel for $5.9 billion. On December 9, 2020, the company’s shares began trading at $42 on New York, following its IPO. After the IPO, C3.ai’s shares shot up to $183.90. The stock dropped to $11 in January 2023. It has since rebounded somewhat to the current price. C3.ai’s software solutions fall into two primary groups: The C3 AI Suite, the company’s main technology, offers comprehensive application-development software. It lets customers rapidly design, develop, and deploy corporation-wide AI applications of any type. Meanwhile, C3 AI Applications include a large and growing family of industry-specific and application-specific AI solutions that can be immediately installed and…