| From: Julius Wong | 8/24/2023 12:50:10 PM | | | | | | AI stocks sink as Nvidia-led euphoria fades
Aug. 24, 2023 11:58 AM ET
C3.ai, Inc. (AI), NVDA GOOG, AMZN, MSFT, AMD, INTC, MRVL, MU, ADBE, AVGO, GOOGL, BBAI, SOUN
By: Chris Ciaccia, SA News Editor
18 Comments
 Vertigo3d
Artificial intelligence stocks sank on Thursday as the euphoria surrounding Nvidia (NASDAQ: NVDA) and its strong second-quarter results and guidance faded.
Enterprise software company C3.ai (NYSE: AI) gave up earlier gains and fell nearly 12% in mid-day trading on Thursday, while SoundHound AI ( SOUN) and BigBear.ai Holdings ( BBAI) each lost more than 6%.
Microsoft ( MSFT) shares slipped around 1.4%, while Adobe ( ADBE), which has recently been praised for its AI offerings, lost around 2.5%.
The other mega-cap tech stocks, Google ( GOOG) ( GOOGL) and Amazon ( AMZN), fell 1.4% and 2%, respectively.
The losses weren't just relegated to software stocks as semiconductor stocks lost ground too. AMD ( AMD) shares reversed earlier gains and fell more than 6%, as did Marvell Technology ( MRVL), which is slated to report its own quarterly results after the close of trading.
Broadcom ( AVGO) shares lost around 1%, while Intel ( INTC) and Micron Technology ( MU) also lost ground.
Nvidia ( NVDA) shares were still higher on the day shortly before 12 p.m. EST, though well off the best levels of the session.
A number of analysts praised the company's results and guidance, with some calling the outlook a "guidance for the ages."
In addition to the strong results and outlook, Nvidia ( NVDA) approved an additional $25B share buy back program, adding that it would continue to repurchase stock this fiscal year. |
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| From: Savant | 11/13/2023 11:10:36 AM | | | | | | C3 AI (NYSE: AI), the Enterprise AI application software company, today announced that C3 AI CEO Thomas M. Siebel will present at a fireside chat at the 5(th) Annual Needham Virtual Infrastructure, Data Analytics Software & Cloud Communications Conference on Wednesday, November 15, 2023, at 10:40 am ET.
Interested parties will be able to watch a replay of the webcast, which will be accessible on the C3 AI Investor Relations website (ir.c3.ai) following the event.
About C3.ai, Inc. |
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| From: Julius Wong | 11/14/2023 5:47:55 PM | | | | | | C3.ai soars on expansion of AWS deal focused on generative AI
Nov. 14, 2023 3:12 PM ET
By: Chris Ciaccia, SA News Editor
 hapabapa
- Enterprise software company C3.ai (NYSE: AI) rose more than 6% on Tuesday after the company announced an expansion of its "strategic collaboration agreement" with Amazon (NASDAQ: AMZN) and its cloud computing unit, Amazon Web Services.
- In a statement, C3.ai ( AI) said it and AWS will continue to focus on offering generative artificial intelligence for customers in multiple sectors, including manufacturing, power and utilities, consumer goods, as well as state and federal governments.
- “We’ve seen continued enthusiasm in the C3 Generative AI Suite since its launch, and as interest continues to grow, our collaboration is focused on building a quick and easy onboarding process so our shared customers can start seeing immediate value from generative AI,” said C3 AI CEO Thomas Siebel in a statement. “Our teams are dedicated to creating tightly integrated solutions so organizations can increase efficiency through faster data retrieval and analysis and accelerate value creation by getting many users onboarded quickly.”
- C3.ai's ( AI) deal with AWS started in 2016 and its generative AI suite, which was unveiled in February, as well as its platform and applications all run on AWS.
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| From: Julius Wong | 11/20/2023 8:20:13 PM | | | | | | C3.ai tumbles on report of job cuts
Nov. 20, 2023 3:22 PM ET
By: Chris Ciaccia, SA News Editor
20 Comments
hapabapa
- C3.ai (NYSE: AI) shares erased earlier gains and fell nearly 6% on Monday amid a report that the enterprise software company is cutting jobs.
- The job cuts, which happened across multiple departments, happened due in part to employee performance and cost savings, Bloomberg reported.
- At a meeting on Thursday with employees, a C3.ai ( AI) executive said the layoffs were due to the need for cost cuts, the news outlet added, citing one attendee.
- C3.ai ( AI) did not immediately respond to a request for comment from Seeking Alpha.
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| From: Julius Wong | 11/21/2023 10:31:40 PM | | | | | | C3.ai gains as Oppenheimer upgrades on 'accelerating growth,' margin expansion
Nov. 21, 2023 9:02 AM ET
By: Chris Ciaccia, SA News Editor
5 Comments
hapabapa
C3.ai (NYSE: AI) shares rose 2.5% in premarket trading on Tuesday as investment firm Oppenheimer upgraded the enterprise software company, citing expectations for "accelerating growth" and margin expansion.
Analyst Timothy Horan raised his rating on C3.ai ( AI) shares to outperform from perform, along with a $40 price target, noting that he expects fiscal 2023 and 2024 revenue to be 1% and 4% above consensus, respectively.
He noted that since initiating coverage on the stock in late June, shares have underperformed, even as revenue growth has accelerated.
"The 'AI' theme is real and durable, with C3.ai well-positioned as one of the few pure plays helping customers drive new revenue sources/major productivity improvements; should accelerate growth into '25E," Horan wrote in an investor note.
Horan added that companies are not willing to be left behind when implementing artificial intelligence and following the developer days from OpenAI and Microsoft ( MSFT), enterprises have seen additional clarity and return on investment, which bodes well for C3.ai ( AI).
He said that C3.ai ( AI) is benefiting from the halo effect of Microsoft ( MSFT) pushing Copilot, as it shows "practical" applications of AI.
"Additionally, Microsoft's extensive data lakes, robust multicloud connectivity, stringent security compliance systems, and effective intellectual property protection have alleviated enterprise concerns, which C3.ai can piggyback, though we are still early in building the tools/foodchain," Horan explained.
Additionally, he said that recent moves by Microsoft ( MSFT) should help AI commercialization, including product upgrades and cutting processing costs. And with the expected release of ChatGPT 5.0 sometime in the next six months or so, along with the drama surrounding Sam Altman's ouster at OpenAI, these should all be "positive triggers" for C3.ai ( AI), Horan said.
The upgrade comes one day after it was reported that C3.ai ( AI) was cutting jobs across multiple departments due in part to employee performance and cost savings. |
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| From: Julius Wong | 12/2/2023 8:39:28 AM | | | | | | AI stocks gain ground as HP Enterprise CEO says tech has reached 'inflection point'
Dec. 01, 2023 12:51 PM ET
By: Chris Ciaccia, SA News Editor
10 Comments
 da-kuk
Artificial intelligence-linked rose on Friday on back of strong comments from HP Enterprise (NYSE: HPE) Chief Executive Antonio Neri about the technology's future.
“The technology has achieved an inflection point,” Neri said of high-powered servers used for AI, according to Bloomberg. Neri made the comments a company conference in Barcelona.
HP Enterprise ( HPE) shares rose 1% in mid-day trading, while other AI-related stocks, such as C3.ai (NYSE: AI), Palantir (NYSE: PLTR), BigBear.ai Holdings ( BBAI) and SoundHound AI ( SOUN) also saw strong gains.
C3.ai ( AI), led by CEO Thomas Siebel, is slated to report fiscal first-quarter earnings next week. Seeking Alpha Investing Group Leader Jonathan Weber said investors should pay attention to the ratio of subscription revenue, new contract wins, guidance and share dilution.
Neri's comments about AI, which has been one of the top themes of the year, come after his company reported its own quarterly results this week, aided in part by artificial intelligence.
HP Enterprise ( HPE) reported of non-GAAP diluted net earnings per share of 52 cents compared to the average analyst estimate of 50 cents. Sales of $7.4B compared to the estimate of $7.37B.
High Performance Computing & Artificial Intelligence revenue was $1.2 billion, up 37% from the prior-year period in actual dollars and 38% in constant currency.
Following the results, several analysts on Wall Street weighed in on the results, including Morgan Stanley, which upgraded the stock based on valuation as well as its exposure to AI.
Separately this week, HP Enterprise ( HPE) announced it was expanding its partnership with Nvidia ( NVDA) to build an enterprise computing solution for generative artificial intelligence. |
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