C3 AI shares plummet as company cuts 26% of workforce, posts wider loss than expected
CNBC
Shares of enterprise artificial intelligence company C3 AI sunk after widely missing earnings and announcing layoffs under new CEO Ehikian's restructuring plan.
Shares of C3 AI sank 17% on Thursday, trading at a record low, after the company reported disappointing third-quarter fiscal results and announced cuts to over a quarter of its workforce.
The enterprise artificial intelligence company with the ticker AI reported $53 million in third-quarter revenue, far below LSEG estimates of $76 million.
The company reported a loss of 40 cents per share, while analysts expected a loss of 29 cents per share.
Here are five key things investors need to know to start the trading day.
Most enterprise AI projects have failed since 2018, a sobering track record for an industry awash in enthusiasm.
The new unified app aims to help OpenAI streamline the user experience.
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People in China are rushing to buy preowned computers to try OpenClaw with demand for MacBooks particularly high, according to one reseller.
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The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.
Here are five key things investors need to know to start the trading day.
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OpenAI has hired the former DocuSign CFO Cynthia Gaylor to run investor relations as the company gears up for a potential IPO.
Microsoft is doubling down on its superintelligence group to build models, while consolidating engineering efforts for its Copilot assistants.