C3.ai (NYSE: AI) continued its wild ride in February by surging 50% higher, according to data provided by S&P Global Market Intelligence. The artificial intelligence (AI)-as-a-service pioneer reported quarterly earnings that included encouraging news on burn rate and important customer metrics. C3.ai was able to claw back some of the past two years' shareholder losses with impressive results at a time when investor risk appetite is rising -- especially for AI stocks.

C3.ai's Feb. 28 earnings report modestly outperformed Wall Street's sales estimates, but its net losses were much smaller than anticipated. Its cash burn has been under increased scrutiny since the Federal Reserve hiked interest rates. Wall Street is favoring self-sufficient businesses right now, and analysts certainly took note of C3.ai's lower-than-expected burn.

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