C3.ai stock heads for best month yet ahead of earnings

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C3.ai stock heads for best month yet ahead of earnings

11:41 am ET May 30, 2023 (MarketWatch) Print

Shares of C3.ai Inc. (AI) were rallying for the fourth straight session Tuesday and on track to post their largest monthly percentage gain on record, according to Dow Jones Market Data. The stock is up 16.4% in Tuesday's session and ahead 115.1% so far in May amid sharp momentum for names leveraged to the artificial-intelligence trend. The shares, up 41.1% over the current four-session streak, were on pace to log their best four-day session since one that ended Feb. 3 and resulted in gains of 58.8%. The company, which makes enterprise AI software, is due to post fiscal fourth-quarter results after Wednesday's closing bell. The company already signaled that it expects to beat its initial revenue target, and its outlook will be closely watched for signs of how the AI boom is manifesting into business for C3.ai. The company announced Tuesday that its C3 Generative AI product suite was available on Amazon.com Inc.'s (AMZN) AWS Marketplace.

-Emily Bary

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May 30, 2023 11:41 ET (15:41 GMT)