Digital image of artificial intelligence human brain on black background.
C3.ai recently filed its S-1 with the Securities and Exchange Commission and the public offering is likely to hit the markets in the first half of December. The company is expected to raise over $400 million and list on the NASDAQ exchange under the ticker AI.
The CEO and founder of C3.ai is Tom Siebel, who is a legend in Silicon Valley. He got his start in the mid-1980s with Oracle and helped lead the growth of the relational database market. Then in 1993 he founded Siebel, which pioneered the CRM (Customer Relationship Management) category.
shareholder letter: “Today, at the confluence of these technology vectors we find the phenomenon of Enterprise AI and Digital Transformation, mandates that are rising to the top of every CEO’s agenda. The global IT market exceeds $2.3 trillion today.”
Of this market, the size that C3.ai is addressing is at about $174 billion this year and is expected to reach $271 billion by 2024.
“The company should do well both during and after COVID as demand for easy-to-use AI / ML solutions in the enterprise is set to increase significantly,” said Yiannis Antoniou, who is an analyst at Gigaom. “We are still at the beginning of a AI-fueled enterprise digital transformation, and C3.ai is positioned well as a pioneer