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Shares of the enterprise artificial intelligence company C3 AI
fell 14% in extended trading on Wednesday after it announced fiscal first-quarter results and the appointment of Stephen Ehikian as its new CEO.
C3 AI reported $70.3 million in revenue for the quarter, down from $87.2 million during the same period last year. The company’s GAAP net loss widened to an 86-cent loss from a 50-cent loss a year ago.
Ehikian is a long-time tech executive who built two companies that were both acquired by Salesforce
