AI stocks surge as investors bet on growth prospects
March 3 (Reuters) - Shares of artificial intelligence-based (AI) product makers zoomed on Friday, as a strong forecast from retail darling C3.ai Inc (AI.N) amplified an ongoing euphoria in the segment driven by the launch of OpenAI's ChatGPT. C3.a1 forecast better-than-expected revenue and profit for both the fourth quarter and fiscal year 2023, after its third-quarter results topped Wall Street estimates. Shares of the AI software provider were up 16% at $24.80, and were one of the top five trending stocks on StockTwits. If the gains hold, the stock is set to notch its strongest one-day gain in a month. "The company is starting to gain momentum in building significant enterprise opportunities in its pipeline with its suite of innovative enterprise AI solutions," said Wedbush analyst Daniel Ives.
Mar-4-2023, 09:25:19 GMT
- Country:
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- Information Technology (0.99)
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