C3.ai stock popped 20% in premarket trading

Tiger Newspress2021-12-10

C3.ai stock popped 20% in premarket trading after C3.ai won $500M Department of Defense contract.

C3.ai bags a new five-year Production-Other transaction agreement with the U.S. Department of Defense for $500M.

The agreement allows for an accelerated timeline to acquire company’s suite of Enterprise AI products and allows any DoD agency to acquire company products and services for modelling and simulation.

“The new Agreement has a DoD-wide scope, accelerating research projects in simulation and modelling and production deployments for operations and sustainment,” said Thomas M. 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.”

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