What's Going On With C3.ai Stock Today?

C3.ai Inc AI shares are trading lower by roughly 10.9% to $29.07 Thursday afternoon amid broader tech sector weakness.

Shares of several tech stocks, including C3.ai, initially traded higher in sympathy with NVIDIA during Wednesday's after-hours session, which reported strong second-quarter financial results and third-quarter guidance.

NVIDIA's strong AI-related performance could generate a positive sentiment in the AI and tech sectors. Investors might perceive NVIDIA's success as a sign of growing demand for AI technologies, benefiting companies like C3.ai that are also engaged in AI-driven solutions. This initial optimism could drive an upward movement in C3.ai's stock price.

However, after an initial rise, some investors might decide to capitalize on the short-term gain by selling their positions and taking profits. This profit-taking behavior could lead to a sell-off in the near term.

See Also: Elon Musk Says Cybertruck Is Tesla's 'Best Product Ever'

What's Going On With Nvidia?

NVIDIA did not disappoint investors Wednesday with second-quarter earnings that are well ahead of expectations thanks to the strong momentum imparted by its positioning in hot-and-happening artificial intelligence technology.

Reflecting the strength, Data Center revenue rose to a record and accounted for roughly two-thirds of the total. The company issued third-quarter revenue guidance of $16 billion, more than $3 billion above what the Street was expecting...Read More

According to data from Benzinga Pro, C3.ai has a 52-week high of $48.87 and a 52-week low of $10.16.