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C3.ai (AI), Paradyme Extend Partnership to Deliver AI Solutions
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C3.ai (AI - Free Report) recently announced an expanded partnership agreement with Paradyme, a technology solutions company specializing in enhancing operational efficiency and business agility for the U.S. government. This collaboration aims to accelerate the delivery of AI solutions tailored to the U.S. Intelligence Community.
Since 2021, C3.ai and Paradyme have been working together to provide AI-powered applications that offer predictive insights to federal agencies. Under the new agreement, Paradyme will bolster its workforce dedicated to joint selling and delivery efforts. This expansion includes training on and selling C3 Generative AI for Defense and C3 AI Law Enforcement, in addition to the C3 AI Defense and Intelligence Suite.
Through this collaboration with C3.ai, Paradyme is leveraging its substantial domain expertise and dedicated workforce, which will play a pivotal role in accelerating the transition and deployment process from pilot to hardened AI application.
C3.ai has been benefiting from its expanding federal clientele. In third-quarter fiscal 2024, U.S. federal business revenues jumped 100% year over year and bookings surged 85%.
It signed new and expanded agreements with the Missile Defense Agency, the Department of Defense, the United States Air Force, and the U.S. Intelligence Community, including seven new generative AI agreements at the Missile Defense Agency, the United States Air Force, JROC and the U.S. Marine Corps in the reported quarter.
C3.ai Rides on Strong Portfolio
C3.ai has been riding on its strong portfolio and partner base, which has helped it expand its clientele.
The company recently announced that C3 Generative AI: Standard Edition, its no-code, self-service generative AI application, is now available on Google Cloud Marketplace, supporting Google’s newest and most advanced large language model, Gemini.
C3 Generative AI (launched May 2023) has been available and is currently being used by manufacturing, industrial and military industries. C3 Generative AI improves safety standards on production floors and equipment operations and analyzes technical information, contracts and financial data.
In November 2023, AI announced the availability of C3 Generative AI: AWS Marketplace Edition. Availability at AWS has been instrumental in expanding AI’s federal business.
Moreover, the strong demand for enterprise AI is driving C3.ai’s clientele.
In third-quarter fiscal 2024, AI signed new agreements with the likes of Boston Scientific, Pantaleon, Booz Allen, Southwire, Carpenter Technology, Florida Crystals, Santa Ana Agriculture, Cerveceria Guatemala, AbbVie, T-Mobile, Bloom Energy, BallCorporation, DLA Piper, Carlisle Companies and Holcim among others.
Genentech, the medical biotechnology company, recently selected C3 AI Reliability as the continued provider of AI-based predictive maintenance software on its biologics manufacturing equipment.
AI completed the fiscal third quarter with 62% more bookings with its partner network. State and local government generated 29% of AI’s bookings in the reported fiscal quarter.
Q4 View Strong
For the fourth quarter of fiscal 2024, C3.ai expects total revenues between $82 million and $86 million.
The Zacks Consensus Estimate for fourth-quarter fiscal 2024 revenues is pegged at $82.72 million, indicating 14.23% year-over-year growth.
For fiscal 2024, the company expects total revenues between $306 million and $310 million.
The Zacks Consensus Estimate for fiscal 2024 revenues is pegged at $308.44 million, indicating 15.61% year-over-year growth.
Image: Bigstock
C3.ai (AI), Paradyme Extend Partnership to Deliver AI Solutions
C3.ai (AI - Free Report) recently announced an expanded partnership agreement with Paradyme, a technology solutions company specializing in enhancing operational efficiency and business agility for the U.S. government. This collaboration aims to accelerate the delivery of AI solutions tailored to the U.S. Intelligence Community.
Since 2021, C3.ai and Paradyme have been working together to provide AI-powered applications that offer predictive insights to federal agencies. Under the new agreement, Paradyme will bolster its workforce dedicated to joint selling and delivery efforts. This expansion includes training on and selling C3 Generative AI for Defense and C3 AI Law Enforcement, in addition to the C3 AI Defense and Intelligence Suite.
Through this collaboration with C3.ai, Paradyme is leveraging its substantial domain expertise and dedicated workforce, which will play a pivotal role in accelerating the transition and deployment process from pilot to hardened AI application.
C3.ai has been benefiting from its expanding federal clientele. In third-quarter fiscal 2024, U.S. federal business revenues jumped 100% year over year and bookings surged 85%.
C3.ai, Inc. Price and Consensus
C3.ai, Inc. price-consensus-chart | C3.ai, Inc. Quote
It signed new and expanded agreements with the Missile Defense Agency, the Department of Defense, the United States Air Force, and the U.S. Intelligence Community, including seven new generative AI agreements at the Missile Defense Agency, the United States Air Force, JROC and the U.S. Marine Corps in the reported quarter.
C3.ai Rides on Strong Portfolio
C3.ai has been riding on its strong portfolio and partner base, which has helped it expand its clientele.
The company recently announced that C3 Generative AI: Standard Edition, its no-code, self-service generative AI application, is now available on Google Cloud Marketplace, supporting Google’s newest and most advanced large language model, Gemini.
C3 Generative AI (launched May 2023) has been available and is currently being used by manufacturing, industrial and military industries. C3 Generative AI improves safety standards on production floors and equipment operations and analyzes technical information, contracts and financial data.
In November 2023, AI announced the availability of C3 Generative AI: AWS Marketplace Edition. Availability at AWS has been instrumental in expanding AI’s federal business.
Moreover, the strong demand for enterprise AI is driving C3.ai’s clientele.
In third-quarter fiscal 2024, AI signed new agreements with the likes of Boston Scientific, Pantaleon, Booz Allen, Southwire, Carpenter Technology, Florida Crystals, Santa Ana Agriculture, Cerveceria Guatemala, AbbVie, T-Mobile, Bloom Energy, BallCorporation, DLA Piper, Carlisle Companies and Holcim among others.
Genentech, the medical biotechnology company, recently selected C3 AI Reliability as the continued provider of AI-based predictive maintenance software on its biologics manufacturing equipment.
AI completed the fiscal third quarter with 62% more bookings with its partner network. State and local government generated 29% of AI’s bookings in the reported fiscal quarter.
Q4 View Strong
For the fourth quarter of fiscal 2024, C3.ai expects total revenues between $82 million and $86 million.
The Zacks Consensus Estimate for fourth-quarter fiscal 2024 revenues is pegged at $82.72 million, indicating 14.23% year-over-year growth.
For fiscal 2024, the company expects total revenues between $306 million and $310 million.
The Zacks Consensus Estimate for fiscal 2024 revenues is pegged at $308.44 million, indicating 15.61% year-over-year growth.
Zacks Rank & Stocks to Consider
C3.ai currently has a Zacks Rank #3 (Hold).
NVIDIA (NVDA - Free Report) , Meta Platforms (META - Free Report) and Synopsys (SNPS - Free Report) are some better-ranked stocks in the broader Zacks Computer and Technology sector, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Year to date, shares of NVDA, META and SNPS have gained 82.2%, 39.5% and 11.3%, respectively.
Long-term earnings growth rates for NVIDIA, Meta Platforms and Synopsys are currently pegged at 30.93%, 19.5% and 17.51%, respectively.