Businessman touching the brain working of Artificial Intelligence (AI) in the futuristic business … [+]
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C3.ai, which is a top provider of enterprise AI software and services, is a newly public company. It pulled off its deal in December and issued 15.1 million shares at $42 each. On the first day of trading, the shares spiked 120%.
And this would not be the end of the gains. Within a couple months, the stock price would hit an all-time high of $183.
But as the markets started to cool off, so did the shares of C3.ai. Consider that the stock price is now at $64.
Despite this, the future does look bright for the company. “The total addressable market is huge,” said Tom Siebel, who is the CEO and founder of C3.ai. “It’s a third of a trillion dollars.”
Keep in mind that Siebel is a veteran of the…