C3ai has soared 86% year-to-date as investor frenzy for artificial intelligence builds amid ChatGPT success
Microsoft had previously invested $1 billion into OpenAI in 2019. While C3.ai does not own a piece of OpenAI, it does have a contract with Microsoft's cloud platform.
C3.ai soared as much as 28% on Tuesday after the company said it would integrate ChatGPT into its product suite of artificial intelligence tools. "The C3 Generative AI Product Suite integrates the latest AI capabilities from organizations such as Open AI, Google, and academia, and the most advanced models, such as ChatGPT and GPT-3 into C3 AI's enterprise AI products," C3.ai said in a Tuesday press release.
"Combining the full potential of natural language, generative pre-trained transformers, enterprise AI, and predictive analytics will change everything about enterprise computing," C3.ai CEO Thomas Siebel said. The recent surge in C3.ai's stock price has helped it reach levels not seen since August. Despite the year-to-date surge, C3.ai is down 89% from its record December 2020 high of $183.90 per share.
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