November 21, 2023: C3 AI shares surged nearly 8% today as the company announced an expansion of its strategic collaboration agreement with Amazon Web Services (AWS). The two companies will work together to develop and deliver advanced generative AI solutions for enterprises across various industries.
The expanded agreement focuses on making it easier for customers to adopt and use C3 AI’s generative AI solutions on AWS. The companies will also collaborate on marketing and sales efforts to promote their joint offerings.
“We are excited to expand our partnership with AWS to bring the power of generative AI to more enterprises,” said C3 AI CEO Thomas M. Siebel. “Our combined expertise and resources will enable us to deliver innovative solutions that help businesses solve their most critical challenges.”
The expanded collaboration is a significant development for both C3 AI and AWS. C3 AI is a leader in enterprise AI software, and AWS is the world’s leading cloud provider. By working together, the two companies can bring the benefits of AI to a broader range of businesses.
The announcement of the expanded collaboration was met with positive reaction from investors. C3 AI shares closed up nearly 8% on the announcement day. The stock has gained almost 170% this year, boosted by booming demand for AI products.
Here are some of the key takeaways from the news: