Is C3.ai a Buy?
C3.ai (NYSE: AI) has been one of 2023's top-performing artificial intelligence (AI) stocks. It's up around 180% this year, but is down about 30% from its high set in June. With 2024 shaping up to be another strong year for AI-related companies, investors may wonder if this is a buying opportunity for C3.ai.
C3.ai specializes in plug-and-play AI solutions for enterprise-level customers. With products ranging from energy management, demand forecasting, and anti-money laundering, C3.ai has solutions spanning multiple industries.
However, one of C3.ai's most lucrative clients in recent quarters has been the federal government. In its fiscal 2024 second quarter, which ended Oct. 31, 49% of bookings came from its federal, defense, and aerospace segment. In Q1, that share was 67%. Clearly, C3.ai's relationship with the U.S. government is a vital part of its business, making this a key metric to watch.
Source Fool.com
