![]() 2, but also noted that the company’s “fundamentals are gradually improving. 7 post by The Motley Fool reported that C3 AI’s stock recently “ plunged to an all-time low” on Dec. “That should be good news for C3 AI stockholders,” said Staimer. Air Force is already a customer, and reiterated that the deal will help the Air Force accelerate their acquisition timeline. Marc Staimer, the president of Dragon Slayer Consulting, said it is notable that the U.S. It is software-based and not as heavy on services as other offerings.” Part of the reason C3 AI wins is the nature of their offering. “The space will come back post-pandemic. Most folks have been focused on blocking and tackling during the pandemic, such as remote work, safety and security. Ray Wang, principal analyst with Constellation Research. “This the first of many wins to come,” said R. Several IT analysts said the deal is good news for the company. It is a staggering amount of money for a relatively small company like C3 AI and we feel privileged to receive the award and proud to be able to serve United States Defense Department." "I think in the long run, the stock price takes care of itself so I am not really worried about that. defensive entities can adopt AI without going through these lengthy, burdensome annual procurement processes that are mandated by the federal acquisition regulations," he said. "It's going to dramatically accelerate the rate at which the U.S. ![]() The agreement will enable the DOD to add C3 AI's software into additional military aircraft to give them broader AI capabilities, according to Siebel. The DOD agencies can acquire the software and services until the $500 million limit is reached, which can renewed if needed, he said. The deal is a "Production-Other Transaction Agreement" for $500 million, which means that agencies within the DOD can acquire AI software and services from the company at any time without having to bid contracts or go through further acquisition procedures including RFPs, Siebel told EnterpriseAI in an interview. “These enterprise capabilities are critical to DOD and intelligence agencies as they accelerate their transformation towards large-scale deployments of increasingly vital artificial intelligence capabilities,” C3 AI stated. Air Force Space Force and other DOD agencies are already C3 AI customers, and the new $500 million agreement will accelerate the adoption of the C3 AI Suite and C3 AI defense and intelligence applications across a broader group of DOD agencies, according to the company.Ĭ3 AI defense and intelligence applications in use today include insider threat, security clearance adjudication, readiness, AI predictive maintenance, modeling and simulation, missile trajectory modeling and data fusion, the company said. “We are thrilled to have been selected for these important initiatives and look forward to expanding our work and finding new ways to better serve the U.S. Siebel, the CEO of C3 AI, said in a statement. “The new agreement has a DOD-wide scope, accelerating research projects in simulation and modeling and production deployments for operations and sustainment,” Thomas M. 9, “allows for an accelerated timeline to acquire C3 AI’s suite of Enterprise AI products and allows any DOD agency to acquire C3 AI products and services for modeling and simulation,” the company said in a statement. The deal with the DOD, which was unveiled Dec. The COVID-19 pandemic, combined with supply chain challenges and business pressures from customers whose businesses were also adversely affected by the pandemic, combined to sag the fortunes of C3 AI and other companies, even while other companies did well during the same period. After-hours trading, however, saw the stock price down by three cents per share or -0.09 percent by 4:20 PM EST. At today’s close, the stock price perked up slightly by 4.83 percent, rising to $33.64 per share. ![]() Department of Defense (DOD) that aims to help the military accelerate its use of AI in the nation’s defense.įor C3 AI, the five-year deal could not have come at a better time as the company has watched its stock price decline by almost 80 percent over the last 52 weeks, ranging from $183.90 to a low of $27.52, according to. Enterprise AI vendor C3 AI announced the receipt of a $500 million AI modeling and simulation software agreement with the U.S.
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