What In The World Is Going On With C3.ai (AI) Stock?

C3.ai Inc AI shares are trading higher by 10.14% to $26.39 Thursday morning. The stock is trading higher potentially in sympathy with peer big data analytics firm Palantir Technologies Inc after the company reported better-than-expected third-quarter financial results and raised FY23 revenue guidance.

Both Palantir and C3.ai are technology companies that specialize in artificial intelligence and data analytics. They offer software solutions that help organizations make data-driven decisions and insights.

What Happened With PLTR Earnings?

Palantir reported strong third-quarter results, beating revenue and earnings estimates. They achieved their fourth consecutive quarter of profitability. Commercial revenue grew by 23%, with a 37% increase in U.S. commercial customer count.

Government revenue also increased by 12%, and the overall customer count rose by 34% YoY to $251 million...Read More

Why It Matters To C3.ai Investors

Palantir's strong earnings report, profitability, and revenue growth are seen as a positive indicator for the technology companies in the same sector, including C3.ai.

When investors see one company succeeding in the field, it can boost confidence in the industry as a whole, potentially leading to increased investment in similar companies.

If Palantir's strong performance is seen as a sign of increasing demand for data analytics and AI solutions, investors may anticipate similar growth potential for C3.ai and buy its stock, driving the price higher.

See Also: How To Earn $500 A Month From Qualcomm Stock

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