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C3.ai Faces Hard Competition in Enterprise AI: Can It Defend the Turf?

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Key Takeaways

  • C3.ai posted 26% revenue growth in Q4, led by subscriptions and engineering services.
  • Partnerships with AWS, Microsoft and Baker Hughes help C3.ai expand its enterprise AI reach.
  • AI stock trades at a discount despite a recent 12.2% rally and projected double-digit sales growth.

C3.ai, Inc. (AI - Free Report) is capitalizing on the booming demand for enterprise AI. However, the company now faces a critical challenge. As competition intensifies from both tech giants and emerging players, C3.ai must defend its specialized niche in turnkey AI applications.

In fourth-quarter fiscal 2025, C3.ai reported strong year-over-year revenue growth of 26%, driven primarily by subscription and prioritized engineering services. It closed the year with $742.7 million in cash and no debt, underscoring solid financial discipline. Yet profitability remains elusive, with a non-GAAP operating loss of $31.2 million, a reminder that scale is essential to long-term sustainability.

CEO Tom Siebel emphasized the uniqueness of C3.ai’s position as a “pure-play enterprise AI application” provider, claiming more than 130 turnkey AI solutions deployed across industries like manufacturing, defense, healthcare and energy. Partnerships with Microsoft, AWS, Google Cloud and PwC have expanded distribution, while a recently renewed deal with Baker Hughes, valued at more than $500 million to date, reinforces credibility in the energy sector.

But this momentum does not insulate C3.ai from intensifying pressure. Hyperscalers are moving up the stack, while legacy software vendors are adding AI labels to existing products. While C3 holds a patent on agentic AI, broader market validation remains a work in progress.

To defend the turf, C3.ai must turn its expansive partner network and early mover advantage into durable revenue streams. The coming quarters will test whether its investments in demos, strategic alliances and vertical-specific applications can convert into margin expansion and eventual profitability. In a crowded AI race, execution, not vision, will be C3.ai’s ultimate differentiator.

Microsoft and Palantir Threaten C3.ai’s Lead in Enterprise AI

While C3.ai touts the first-mover status in enterprise AI applications, tech giants like Microsoft (MSFT - Free Report) and focused players like Palantir Technologies (PLTR - Free Report) are rapidly encroaching on its territory.

Microsoft, with its Azure OpenAI integration and massive cloud footprint, is bundling AI capabilities directly into enterprise software workflows. MSFT’s partnerships with major corporations and embedded AI tools across Office, Dynamics and Azure services make it a formidable competitor. Ironically, C3.ai also relies heavily on Microsoft as a distribution partner, creating a complex dynamic.

Meanwhile, Palantir is gaining traction with its AI Platform, targeting similar use cases in defense, healthcare and industrial sectors. With strong government ties and a track record of real-time operational deployments, Palantir’s offerings mirror many of C3.ai’s strengths.

Both competitors possess deep resources, broader client networks and faster deployment channels. For C3.ai, staying ahead will require relentless innovation and sharper positioning in an increasingly crowded AI battlefield.

AI Stock’s Price Performance & Valuation Trend

Shares of this enterprise AI-application software company have surged 12.2% in the past three months, significantly outperforming the industry, as you can see below.

C3.ai Stock’s Price Performance

Zacks Investment Research
Image Source: Zacks Investment Research

Despite the recent rally, AI stock is currently trading at a discount compared with its industry peers, with a forward 12-month price-to-sales (P/S) ratio of 6.68, as evidenced by the chart below.

P/S (F12M)

Zacks Investment Research
Image Source: Zacks Investment Research

Earnings Estimate Trend of AI Stock

The Zacks Consensus Estimate for fiscal 2026 and 2027 loss per share has remained stable in the past 30 days. 

The consensus estimate for fiscal 2026 and 2027 sales implies growth of 20.1% and 21.8%, respectively.

Zacks Investment Research
Image Source: Zacks Investment Research

AI’s Zacks Rank

AI stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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