Shares of enterprise artificial intelligence company C3 AI sunk after widely missing earnings and announcing layoffs under new CEO Ehikian's restructuring plan.
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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.
C3 AI shares tumbled after it announced preliminary financial results and a restructuring of its global sales and services…
Stephen Ehikian is taking over as CEO, succeeding Thomas Siebel, who revealed that he was diagnosed with an autoimmune disease.
The cloud provider announced it is laying off 20% of its workforce as agentic artificial intelligence "fundamentally changes" the…
Cisco's AI story has finally started resonating with Wall Street, with the stock hitting a record late last year and continuing…
OpenAI has recently missed its own projections for user growth and revenue, the WSJ reported.
Shares in the tech giant fell in after hours trade as investors appeared wary of the sector's big spending plans.
