C3.ai, Inc. (NYSE: AI) shares plummeted 5.04% on Tuesday during the intraday trading session. The AI software company's stock closed at $21.17, underperforming the broader market.
The sell-off comes after C3.ai CEO Tom Siebel voiced concerns about an impending AI bubble in an interview with Fortune magazine. Siebel likened the current AI boom to the dot-com bubble, cautioning about overvalued companies and risky investments in the space. He questioned the $157 billion valuation of OpenAI, emphasizing that only companies with solid business plans and reliable technology would survive the AI bubble.
C3.ai is an enterprise AI software company that enables businesses to leverage AI capabilities across various industries. Despite the CEO's warning, C3.ai remains a prominent player in the AI market, offering solutions to help organizations unlock the potential of artificial intelligence.
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