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Why C3.ai Stock Jumped 226% in the First Half of the Year

TheMotleyFool

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Why C3.ai Stock Jumped 226% in the First Half of the Year: https://g.foolcdn.com/editorial/images/739228/artificial-intelligence-ai-data-deep-processing.jpg

Shares of C3.ai (NYSE: AI) were among the big winners in the first half of 2023; the enterprise stock jumped as investors piled into artificial intelligence stocks.

C3.ai's gains came in spite of a short-seller attack and mostly disappointing earnings reports as growth has been flat and the company continues to post wide losses. Nonetheless, CEO Thomas Siebel has touted increasing demand for its software, and the company said it expects to be profitable on a non-GAAP basis by the end of fiscal 2024.

That, along with the spike in interest in AI stocks, helped drive C3.ai to more than triple in the year through June, according to data from S&P Global Market Intelligence, compared to a gain of 15.9% for the S&P 500 index.

Source Fool.com

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