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C3.ai (AI) Enhances Sustainability Through Key Partnership
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C3.ai (AI - Free Report) forged a strategic partnership with ESG Book, aiming to revolutionize sustainability insights and capabilities for enterprise ESG teams.
This collaboration addresses the intricate challenges of fragmented data, evolving stakeholder expectations and shifting regulatory requirements in the sustainability domain.
C3.ai's AI-enabled ESG application, in partnership with ESG Book's comprehensive sustainability data, empowers sustainability teams with analytical tools, aiding informed decisions, risk detection and ESG goal attainment amid rising global demand for quality ESG and climate data.
Expanding Clientele Aids Growth
AI stock has surged 116.4% compared with the Zacks Computer and Technology sector’s increase of 33.8% year to date. The outperformance can be attributed to the rapid adoption of its generative AI platform and expanding clientele.
In the fiscal first quarter, C3.ai entered into new and expanded agreements with Saudi Arabia's Smart City, NEOM, Nucor, Roche, Pantaleon in Central America, Ball, Cargill, Con Ed, Shell, Tyson Foods and the U.S. Department of Defence.
In September, C3.ai announced that Pantaleon has expanded its commitment by deploying C3 Generative AI to enhance business efficiencies, optimizing operations from sugar cane harvesting to document management and pricing outlooks.
A robust portfolio has been a key catalyst in driving AI’s growth. The company has introduced the C3 Generative AI Suite, with 28 domain-specific solutions, building on its successful deployments with clients like Georgia-Pacific, Nucor and Con Edison, while addressing security concerns associated with large language models.
C3.ai's partnership with Shell has significantly expanded, with their predictive maintenance program now monitoring nearly 20,000 equipment pieces, potentially saving over $2 billion annually and preventing costly disasters such as offshore oil rod failures.
AI’s partnership with Koch resulted in the generation of nearly $4 million in monthly predictions across 300+ assets, yielding up to 5% improvements in equipment effectiveness at Georgia-Pacific, while initiating two Generative AI projects to streamline data processing.
In the fiscal first quarter, C3.ai closed 60% of its agreements with and through its partner network, which includes Google Cloud, AWS, Microsoft and Booz Allen Hamilton.
For the second quarter of fiscal 2024, AI expects total revenues between $72 million and $76.5 million. The Zacks Consensus Estimate for the second quarter is currently pegged at $74.55 million, suggesting a year-over-year growth of 19.45%.
The Zacks Consensus Estimate for fiscal 2024 revenue is pegged at 307.99 million, indicating growth of 15.44%.
Image: Bigstock
C3.ai (AI) Enhances Sustainability Through Key Partnership
C3.ai (AI - Free Report) forged a strategic partnership with ESG Book, aiming to revolutionize sustainability insights and capabilities for enterprise ESG teams.
This collaboration addresses the intricate challenges of fragmented data, evolving stakeholder expectations and shifting regulatory requirements in the sustainability domain.
C3.ai's AI-enabled ESG application, in partnership with ESG Book's comprehensive sustainability data, empowers sustainability teams with analytical tools, aiding informed decisions, risk detection and ESG goal attainment amid rising global demand for quality ESG and climate data.
Expanding Clientele Aids Growth
AI stock has surged 116.4% compared with the Zacks Computer and Technology sector’s increase of 33.8% year to date. The outperformance can be attributed to the rapid adoption of its generative AI platform and expanding clientele.
In the fiscal first quarter, C3.ai entered into new and expanded agreements with Saudi Arabia's Smart City, NEOM, Nucor, Roche, Pantaleon in Central America, Ball, Cargill, Con Ed, Shell, Tyson Foods and the U.S. Department of Defence.
C3.ai, Inc. Price and Consensus
C3.ai, Inc. price-consensus-chart | C3.ai, Inc. Quote
In September, C3.ai announced that Pantaleon has expanded its commitment by deploying C3 Generative AI to enhance business efficiencies, optimizing operations from sugar cane harvesting to document management and pricing outlooks.
A robust portfolio has been a key catalyst in driving AI’s growth. The company has introduced the C3 Generative AI Suite, with 28 domain-specific solutions, building on its successful deployments with clients like Georgia-Pacific, Nucor and Con Edison, while addressing security concerns associated with large language models.
C3.ai's partnership with Shell has significantly expanded, with their predictive maintenance program now monitoring nearly 20,000 equipment pieces, potentially saving over $2 billion annually and preventing costly disasters such as offshore oil rod failures.
AI’s partnership with Koch resulted in the generation of nearly $4 million in monthly predictions across 300+ assets, yielding up to 5% improvements in equipment effectiveness at Georgia-Pacific, while initiating two Generative AI projects to streamline data processing.
In the fiscal first quarter, C3.ai closed 60% of its agreements with and through its partner network, which includes Google Cloud, AWS, Microsoft and Booz Allen Hamilton.
For the second quarter of fiscal 2024, AI expects total revenues between $72 million and $76.5 million. The Zacks Consensus Estimate for the second quarter is currently pegged at $74.55 million, suggesting a year-over-year growth of 19.45%.
The Zacks Consensus Estimate for fiscal 2024 revenue is pegged at 307.99 million, indicating growth of 15.44%.
Zacks Rank & Stocks to Consider
Currently, AI carries a Zacks Rank #3 (Hold).
Dell Technologies (DELL - Free Report) , NVIDIA (NVDA - Free Report) and Splunk are some better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1(Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DELL, NVDA and SPLK shares have returned 64.6%, 205.4% and 70.7%, respectively, year-to-date.
Long-term earnings growth rates for Dell Technologies, NVIDIA and Splunk are pegged at 12%,13.5% and 29.55%, respectively.