The CEO took a chance to ride the AI wave, he had the vision but not the skill, he knew it was buble, but wanted to play the game, he fooled a big oil service company as its biggest investor, spent 100M a per year, made the IPO looks good, the oil company has unloaded all its shares and the contract will expire this year. To make up difference, in 2024 the co took another chance, created tons of generative AI models and let hundred companies to try for a year, apparently they offers no value which lead this rev fall short.
The CEO has a big mouth, he mention 39 times generattive AI in a 2024 conference call far more than any other tech company like NVDA, MSFT, META... when I checked the transcript using ChatGPT. When asked why he unloaded tons of his company shares, he said diversify.
The head of the oil company IT department who probably made the decision to invest C3.AI said in his all hands meetings said, you can't blame him to take a chance, it was his last all hands meeting.
Dump it.
