C3ai Is Down 55% This Year. Is Now the Time to Buy?

Few emerging technologies today are as exciting as artificial intelligence. We're witnessing its capabilities applied in new ways, from rapidly analyzing enormous amounts of data to boosting efficiencies in hardware and software. C3.ai (NYSE:AI) is one of the only companies in the world that develops artificial intelligence as a stand-alone service -- put simply, AI is the entirety of its business. Investors have shunned the stock this year as larger technology companies begin to work on artificial intelligence projects, sparking fears of mounting competitive threats. But C3.ai continues to grow revenue, narrow its losses, and it added 82% more customers in the fourth quarter of fiscal 2021 (ended April 30, 2021).