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Why C3.ai Stock Roared 9% Higher This Morning

TheMotleyFool

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After selling off 11% on Tuesday, shares of artificial intelligence stock C3.ai (NYSE: AI) roared back this morning, gaining 8.9% through 10:30 a.m. ET. It wasn't anything that C3.ai said or did, however, that sparked this rally.

It's what everyone else is doing.

Building on the enthusiasm for ChatGPT, just this morning, multiple news outlets reported that Chinese e-commerce giant Alibaba (NYSE: BABA) is developing a "ChatGPT-style tool" of its own. This announcement comes on the heels of news that Chinese search giant Baidu (NASDAQ: BIDU) is building a ChatGPT analog as well -- and that Microsoft (NASDAQ: MSFT) is integrating ChatGPT into its Bing search engine.

Source Fool.com

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