C3 AI shares plummet as company cuts 26% of workforce, posts wider loss than expected

Shares of C3 AI sank 17% on Thursday, trading at a record low, after the company reported disappointing third-quarter fiscal results and announced cuts to over a quarter of its workforce.The enterprise artificial intelligence company with the ticker AI reported $53 million in third-quarter revenue, far below LSEG estimates of $76 million.The company reported a loss of 40 cents per share, while analysts expected a loss of 29 cents per share. "What I consistently hear is that every CEO is making AI a top stra ...