Why C3.ai Stock Popped Tuesday Morning
Shares of C3.ai (NYSE: AI) rallied out of the gate Tuesday, climbing as much as 7.4%. As of 11:36 a.m. ET, the stock was still up 3.6%.
The catalyst that sent the provider of enterprise artificial intelligence (AI) software climbing was not only the general tailwind that has been driving AI stocks lately, but better-than-expected results from a rival in the space.
Fellow AI specialist Palantir Technologies (NYSE: PLTR) released its fourth-quarter report after the market close yesterday, and the results received a warm welcome from investors. Palantir delivered revenue that grew 18% year over year to $509.1 million, as the company experienced solid growth from both its government customers and commercial clients alike. Those segments generated revenue that grew 23% and 11%, respectively.
Source Fool.com
