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C3.ai (AI) Aids Generative AI Efforts With Government Platform
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C3.ai (AI - Free Report) recently announced the launch of C3 Generative AI for Government Programs, an advanced AI application designed to help federal, state and local governments efficiently deliver accurate information to the public about various government programs.
Running on Alphabet’s (GOOGL - Free Report) cloud business, Google Cloud, this application empowers citizens to easily navigate complex government programs such as healthcare, employment and financial assistance through an intuitive natural language search and chat interface.
By leveraging Alphabet’s Google Cloud’s robust infrastructure and advanced language models, C3 Generative AI ensures that users receive trustworthy answers with full source traceability, significantly improving the citizen experience and reducing the burden on government support centers.
Expanding Portfolio and Strong Partner Base Drives AI’s Clientele
The latest move is in sync with AI’s commitment to enhancing public service efficiency and citizen engagement through advanced generative AI applications tailored for government programs.
C3.ai is benefiting from an expanding clientele and growing adoption of its Enterprise AI software. In the fiscal 2024, 88% of bookings were driven by AI application sales and 12% were driven by the C3 AI platform.
The increasing diversity in bookings has been noteworthy. Federal, Defense and Aerospace, Oil and Gas, State and Local Government, Manufacturing and Energy and Utilities accounted for 49.5%, 15.2%, 10.8%, 6.7% and 6% of fourth-quarter fiscal 2024 bookings, respectively.
Federal revenues doubled year over year in the fiscal 2024. AI closed 65 Federal agreements, up 48% year over year.
In the fiscal 2024, AI signed 191 agreements, which rose 52% year over year, with 123 pilots that surged 151% over the fiscal 2023. The strong adoption rate can be attributed to its robust portfolio, strong demand for C3 AI solutions and an expanding partner base that includes the likes of Bloom Energy (BE - Free Report) , AWS, Google Cloud and Microsoft (MSFT - Free Report) .
In May, C3.ai and Bloom Energy announced their collaboration to implement AI-based solutions, utilizing the C3 AI Reliability Suite to enhance Bloom’s fuel cell monitoring and operational excellence.
In the fiscal 2024, C3.ai closed 115 agreements through its partner network, up 62% year over year, which includes 91 agreements with AWS, Google Cloud and Microsoft Azure.
AI Suffers from Higher Investments
Despite a strong portfolio and robust partner base, AI’s near-term results are expected to suffer from higher investments.
The ongoing transition to a pay-as-you-go consumption model is resulting in smaller transactions of shorter terms, which will negatively impact the company’s overall revenue.
The stock has returned 6.5% year to date against the broader Zacks Computer & Technology sector’s rally of 28.6%.
This Zacks Rank #4 (Sell) company expects first-quarter fiscal 2025 revenues between $84 million and $89 million.
The Zacks Consensus Estimate for first-quarter fiscal 2025 revenues is currently pegged at $87.12 million, indicating growth of 42% over the figure reported in the year-ago quarter.
The consensus mark for loss is pegged at 13 cents per share, which remained unchanged in the past 30 days.
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C3.ai (AI) Aids Generative AI Efforts With Government Platform
C3.ai (AI - Free Report) recently announced the launch of C3 Generative AI for Government Programs, an advanced AI application designed to help federal, state and local governments efficiently deliver accurate information to the public about various government programs.
Running on Alphabet’s (GOOGL - Free Report) cloud business, Google Cloud, this application empowers citizens to easily navigate complex government programs such as healthcare, employment and financial assistance through an intuitive natural language search and chat interface.
By leveraging Alphabet’s Google Cloud’s robust infrastructure and advanced language models, C3 Generative AI ensures that users receive trustworthy answers with full source traceability, significantly improving the citizen experience and reducing the burden on government support centers.
Expanding Portfolio and Strong Partner Base Drives AI’s Clientele
The latest move is in sync with AI’s commitment to enhancing public service efficiency and citizen engagement through advanced generative AI applications tailored for government programs.
C3.ai, Inc. Price and Consensus
C3.ai, Inc. price-consensus-chart | C3.ai, Inc. Quote
C3.ai is benefiting from an expanding clientele and growing adoption of its Enterprise AI software. In the fiscal 2024, 88% of bookings were driven by AI application sales and 12% were driven by the C3 AI platform.
The increasing diversity in bookings has been noteworthy. Federal, Defense and Aerospace, Oil and Gas, State and Local Government, Manufacturing and Energy and Utilities accounted for 49.5%, 15.2%, 10.8%, 6.7% and 6% of fourth-quarter fiscal 2024 bookings, respectively.
Federal revenues doubled year over year in the fiscal 2024. AI closed 65 Federal agreements, up 48% year over year.
In the fiscal 2024, AI signed 191 agreements, which rose 52% year over year, with 123 pilots that surged 151% over the fiscal 2023. The strong adoption rate can be attributed to its robust portfolio, strong demand for C3 AI solutions and an expanding partner base that includes the likes of Bloom Energy (BE - Free Report) , AWS, Google Cloud and Microsoft (MSFT - Free Report) .
In May, C3.ai and Bloom Energy announced their collaboration to implement AI-based solutions, utilizing the C3 AI Reliability Suite to enhance Bloom’s fuel cell monitoring and operational excellence.
In the fiscal 2024, C3.ai closed 115 agreements through its partner network, up 62% year over year, which includes 91 agreements with AWS, Google Cloud and Microsoft Azure.
AI Suffers from Higher Investments
Despite a strong portfolio and robust partner base, AI’s near-term results are expected to suffer from higher investments.
The ongoing transition to a pay-as-you-go consumption model is resulting in smaller transactions of shorter terms, which will negatively impact the company’s overall revenue.
The stock has returned 6.5% year to date against the broader Zacks Computer & Technology sector’s rally of 28.6%.
This Zacks Rank #4 (Sell) company expects first-quarter fiscal 2025 revenues between $84 million and $89 million.
You can see the complete list of today’s Zacks #1(Strong Buy) Rank stocks here.
The Zacks Consensus Estimate for first-quarter fiscal 2025 revenues is currently pegged at $87.12 million, indicating growth of 42% over the figure reported in the year-ago quarter.
The consensus mark for loss is pegged at 13 cents per share, which remained unchanged in the past 30 days.