Bitcoin price today: retreats to $104k despite Strategy buying, shutdown progress
Investing.com -- C3 AI (NYSE:AI) stock rose 6% Monday after Reuters reported that the enterprise AI software provider is exploring a potential sale following founder Thomas Siebel’s recent step down as CEO due to health concerns.
According to three sources familiar with the matter, the sales process is in its early stages, with other options including raising funds from private investors also being considered.
The news comes amid challenging times for C3 AI, whose stock has fallen more than 54% year-to-date.
Salesforce veteran Stephen Ehikian succeeded Siebel as CEO on September 1. Siebel, who had transitioned to executive chairman in July, disclosed he has an autoimmune disease causing "significant visual impairment."
C3 AI, which has a current market value of approximately $2.15 billion, competes with larger rival Palantir Technologies in providing AI tools to government and industrial sectors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.