Important points
- C3 AI stock soared on Tuesday as the company expanded its partnership with Microsoft to accelerate the adoption of enterprise AI software.
- The company’s software will be available through the Microsoft Commercial Cloud Portal.
- Tuesday’s gains put C3 AI stock back in positive territory for the year.
C3 AI (AI) stock soared Tuesday after the company expanded its partnership with Microsoft (MSFT) to accelerate the deployment of artificial intelligence (AI) software on Microsoft Azure.
The companies said the partnership positions Microsoft as the “preferred cloud provider” for C3 AI’s enterprise AI software, which will be offered through the Microsoft Commercial Cloud Portal.
C3 AI stock rose 24% on Tuesday to close at $32.96 on the news, pushing the stock into positive territory for the first time in the year. The stock price fell after the company announced in September that it would report a higher-than-expected loss in the second quarter of its fiscal year ending in October.
C3 AI plans to report second quarter results after the market closes on December 9th.
