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      $500M Agreement:, Inc. (AI) stock Soars in the After Hours - Stocks Telegraph

      By Gule Rukhsar

      Published on

      December 10, 2021

      5:25 AM UTC

      $500M Agreement:, Inc. (AI) stock Soars in the After Hours - Stocks Telegraph

      Following the company’s announcement of a $500M agreement with the U.S. DoD,, Inc. (AI) stock surged up by 23.40 in the aftermarket. The AI software company has entered a new agreement with the U.S. Department of Defense, as announced on Thursday.

      In the previous session, the stock lost 5.59%, closing at $32.09 with a volume of 4.75 million shares. Following the news, AI stock became bullish in the after hours. It gained to reach $39.60 at a volume of 1.89 million shares aftermarket on December 09.

      AI stock Movement

      In the past five days, the AI stock has gained 6.82% while losing 29.97% last month. Moreover, the stock has seen a loss of 36.63% in the past three months. Further, the year-to-date loss of the stock is over 76.8%.

      Currently, the 101.54 million outstanding shares of, Inc. (AI) trade at a market capitalization of $3.57 billion.

      The DoD Agreement

      According to Thursday’s announcement, the company has entered a $500 million, five-year Production-Other transaction agreement with DoD. The agreement will let all agencies of the DoD acquire C3 AI solutions for simulation and modeling. Moreover, it is also accelerating the Enterprise AI products’ suite acquisition timeline. This acceleration is very crucial for the DoD, for countering hugely able threats through the AI capabilities.

      Currently, the U.S. Air Force, Space Command, RSO, DISA, and others are already using C3 AI’s certain defense and intelligence applications. These applications include insider threat, security clearance adjunction, AI predictive maintenance, modeling, and simulation, etc.

      Recent Developments

      As per the announcement of November 24, the company recently presented at two investor conferences, virtually.

      Firstly, the company recently presented in the 5th Annual Wells Fargo TMT Summit, held on Thursday, December 02, 2021.

      Further, AI’s management also presented in the KeyBanc Summit @ AWS Re:Invent which was held on Monday, November 29, 2021.

      AI stock’s Financial Analysis

      On December 01, (AI) announced its financial results for the second quarter of fiscal 2022. In the second quarter of fiscal 2022, the company had revenue of $58.3 million, which shows 41% year-over-year growth. This compares to the year-ago quarter’s revenue of $41.3 million.

      Moreover, the company reported a net loss per share of $0.55 (GAAP) and $0.23 (non-GAAP) in the second quarter of fiscal 2022. This compares to the Q2 fiscal 2021, net loss per share of $0.39 and $0.26, GAAP and non-GAAP respectively.

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