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☆ Here's an A.I. pure play that could get bought by a megacap tech, says investor Paul Meeks
  + stars: | 2023-07-12 | by ( Yun Li | ) www.cnbc.com   time to read: +1 min
Longtime tech investor Paul Meeks said artificial intelligence pure play C3.ai could be a potential winner as the firm might be a acquisition target for megacap tech companies. "One pure play AI company, C3.ai, probably at some point successfully sells itself to one of the mega tech cap companies," Meeks said on CNBC Pro Talks Wednesday. Siebel sold his prior software company, Siebel Systems, to Oracle for nearly $6 billion in 2006. Three years later, he started C3.ai , a provider of AI solutions to businesses. C3.ai uses AI to predict a host of issues ranging from fraud detection to helping companies optimize their operations.
Persons: Paul Meeks, Meeks, Tom Siebel's, Siebel, Tom Siebel, it's, Baker Hughes Organizations: CNBC Pro, Independent Solutions Wealth Management, Siebel Systems, Oracle, Forbes, U.S . Department of Defense, Shell
☆ Billionaire Tom Siebel faces tumult at C3.ai as investor lawsuit, short sellers question metrics
  + stars: | 2023-06-02 | by ( Yasmin Khorram Paige Tortorelli | Yasmin Khorram | Paige Tortorelli | ) www.cnbc.com   time to read: +21 min
In their joint venture agreement, Baker Hughes says it uses C3.ai's solutions and also sells the product to companies in the oil and gas industry. CNBC's "Last Call" aired a report Thursday night on the investor lawsuit against C3.ai and the company's relationship with Baker Hughes. The lawsuit says the publicity about the massive Baker Hughes sales force "artificially inflated C3's stock" when the company first went public. Richard Drew | APIn an April 2023 filing, Baker Hughes announced it divested 1.7 million C3.ai shares, bringing its ownership to 6.9 million shares. Kerrisdale pointed to C3.ai's "highly conspicuous growth" in unbilled receivables, largely from Baker Hughes, and wrote that "accounting red flags abound with the Baker Hughes relationship."
Persons: Tom Siebel, Siebel, Thomas M, Chris J, Ratcliffe, it's, Baker Hughes, Logan Roy, Larry Ellison, Yasmin Khorram, Dan Brennan, We've, Brennan, he's, CNBC's, Reed Kathrein, Theranos, —, Kathrein, Richard Drew, they'd, unbilled, receivables, Siebel's, Ken Goldman, Goldman, Gil Luria, Davidson, Luria, Nick Wells, Scott Zamost, Sam Woodward, Tom Siebel's Organizations: Siebel Systems, Oracle, Bloomberg Tech Summit, Bloomberg, Getty, CNBC, Forbes, Siebel, C3, U.S . Department of Defense, Shell, Northern District of, SEC, Twitter, " Traders, New York Stock Exchange, AP, Point Capital Management, Spotify, C3 Energy, Revenue, Wall Locations: London, Redwood City , CA, Redwood City , California, Northern District, Northern District of California, unbilled receivables, Point
☆ Billionaire Tom Siebel faces tumult at C3.ai as short sellers, investor lawsuits question metrics
  + stars: | 2023-06-01 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBillionaire Tom Siebel faces tumult at C3.ai as short sellers, investor lawsuits question metricsTom Siebel, who became a billionaire after selling Siebel Systems to Oracle in 2005, now faces lawsuits and short sellers at AI software vendor C3.ai.
Persons: Tom Siebel Organizations: Siebel Systems, Oracle
☆ AI is the latest Wall Street craze. Is it also the next bubble?
  + stars: | 2023-02-09 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +5 min
All of this AI news has helped boost shares of Baidu (BIDU), Microsoft (MSFT) and Google owner Alphabet (GOOGL) this year. Shares of the artificial intelligence software company have more than doubled this year, to about $26. SoundHound AI, which makes speech- and other audio-recognition software, has also seen its stock more than double this year. The fact that many of the world’s largest tech companies are embracing artificial intelligence is evidence of that. “We believe tech companies and tech equities will continue to face headwinds, as long as the Fed keeps its foot on the brake,” Siebel said in December.
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