Why C3 AI Shares Are Trading Higher Today

C3.AI AI is trading higher Friday after the company announced it won a $500 million Department of Defense Production-Other Transaction Agreement.

The agreement 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 modelling and simulation.

C3 AI’s software enables the DoD to rapidly address additional use cases and scale AI applications across all branches of the U.S. DoD.

"The new Agreement has a DoD-wide scope, accelerating research projects in simulation and modelling and production deployments for operations and sustainment,” said Thomas Siebel, CEO of C3 AI. “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. federal government."

See Also: Looking Into C3.ai's Return On Capital Employed

C3 AI is an enterprise AI software company.

AI Price Action: C3 AI has traded as high as $183.90 and as low as $27.52 over a 52-week period.

The stock was up 7.29% at $34.43 at time of publication.

Photo: geralt from Pixabay.