Is C3.ai Stock a ChatGPT AI Play?

OpenAI, the creator of ChatGPT, has secured a $250 million contract from C3.ai for artificial intelligence (AI).

C3 AI provides enterprise AI services to Google Cloud, the U.S. Department of Defense, the U.S. Department of Energy, the U.S. Air Force, and the U.S. Department of Health and Human Services.

The subscription revenue continues to grow at 26% Year-over-year growth while revenues are growing at 7% year-over-year.

A consumption-based pricing model will help you gain new clients in a weakening economy and scale up as you gain more customers.

C3Ai inc share price News Quote & History

The?C3ai?inc?share?price: C3.AI is a leading Enterprise AI software provider for accelerating digital transformation. The proven C3 AI?Platform?provides comprehensive services to build enterprise-scale AI applications more efficiently and cost-effectively than alternative approaches.An?enterprise artificial intelligence?(AI) software?company?in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally.

c3ai Second Quarter 2023 Financial Highlights

Contract completion rates increased by 100% from 12 months earlier, but contract values decreased due to the introduction of a new pricing model. The average value for contracts in Q2 was $0.8 million, down from $19 million twelve months prior as a result of this change.

• Revenue:?Total revenue for the quarter was $62.4 million, an increase of 7% compared to $58.3 million one year ago.
• Subscription Revenue:?Subscription revenue for the quarter was $59.5 million, an increase of 26% compared to $47.4 million one year ago.
• Gross Profit:?GAAP gross profit for the quarter was $41.7 million, representing a 67% gross margin, compared to GAAP gross profit of $42.3 million one year ago. Non-GAAP gross profit for the quarter was $47.8 million, representing a 77% non-GAAP gross margin, compared to non-GAAP gross profit of $45.3 million one year ago. (C3Ai inc share price)
• Remaining Performance Obligations (“RPO”):?GAAP RPO of $417.3 million, down from $465.5 million one year ago. Our GAAP RPO represents 163% of Q2 annualized revenue. Non-GAAP RPO of $453.5 million, down from $529.3 million one year ago.
• Net Loss per Share:?GAAP net loss per share was $(0.63), compared to $(0.55) one year ago. Non-GAAP net loss per share was $(0.11), compared to $(0.23) one year ago.
• Cash Reserves:?With $858.8 million in cash, cash equivalents, and investments, we believe C3 AI is well positioned to sustain equity market turbulence and to continue to?invest?in?growth?through Enterprise AI innovation and sales expansion.

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