Summary
- C3.ai has filed to raise $504 million in an IPO.
- The firm provides machine learning and artificial intelligence software to organizations worldwide.
- AI has grown revenue and gross profit, operates in a fast-growing industry, and will see additional investment from large strategic players, so the IPO is worth consideration.
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Quick Take
C3.ai (AI) has filed to raise $504 million from the sale of its common stock in an IPO, according to an amended registration statement.
The company provides machine learning/artificial intelligence software to enterprises worldwide.
AI has significant growth potential in a fast-growing industry, the IPO appears reasonably priced and two significant strategic investors are joining the effort in a concurrent private placement, so is worth a close look.
Company & Technology
Redwood City, California-based C3.ai was founded to develop a suite of machine learning software capabilities to help businesses make better decisions and optimize their operations and strategic activities.
Management is headed by founder and CEO Thomas Siebel, who was previously founder and CEO of Siebel Systems until it merged with Oracle in 2006.
Below is a brief overview video of C3.ai's Covid-19 data lake:
