All articles tagged with #tom siebel
C3.ai CEO Tom Siebel is undeterred by Wall Street's concerns as the company embarks on a spending spree, confident in the potential of the technology and determined to pursue growth opportunities.
Despite a recent selloff in C3.ai's stock price following earnings, CEO Tom Siebel remains optimistic about the future of AI and the company's position in the market. He believes that C3.ai has achieved its goals and is "declaring victory," citing the company's strong financials and customer base. However, some investors are concerned about the company's high valuation and competition in the AI space.
C3.ai, an enterprise software developer, saw its shares fall by 26% after short-seller Kerrisdale Capital alleged "serious accounting and disclosure issues" at the company. Kerrisdale accused C3.ai of using "highly aggressive accounting" to inflate its income statement metrics and conceal deterioration in its underlying operations. The company accounts for costs related to bespoke software production as research and development rather than cost-of-revenue to boost margins, according to Kerrisdale. C3.ai called the letter a "highly creative and transparent attempt" to diminish the stock price and said the accounting disclosures and financial statements referenced in the letter have been reviewed by its independent audit firm.