Overview
- C3.ai is exploring a possible sale, according to Reuters, with the process described as early and alternatives such as raising private capital under consideration.
- Shares jumped about 6% on Monday after the report, then fell roughly 5% Tuesday morning to near $15, trading close to a 52-week low.
- The company withdrew its full-year outlook in September following a fiscal first-quarter net loss of $116.8 million and a 19% revenue decline to $70.3 million.
- Founder Thomas Siebel stepped down as CEO on Sep. 1 due to health issues and became executive chairman, with Stephen Ehikian taking over as chief executive.
- The stock is down about 54–55% this year, leaving the market value near $2.15 billion, and no potential bidders have been publicly identified.