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C3 AI Reportedly Exploring Sale After Founder-CEO Thomas Siebel Steps Down

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C3 AI, a California-based enterprise artificial intelligence software company, is reportedly exploring a potential sale following the recent departure of its founder and long-time CEO Thomas Siebel due to health concerns, according to sources familiar with the matter.

The process is said to be in its early stages, with C3 AI also considering other strategic options, including raising private capital, the sources told Reuters. The company, headquartered in Redwood City, provides a platform used by clients such as Shell and the U.S. Air Force to build and operate large-scale AI applications. Its software is widely used across energy, manufacturing, and government sectors, positioning it as a smaller competitor to Palantir Technologies.

C3 AI currently has a market value of around $2.15 billion, but its shares have dropped over 54% this year amid financial struggles and uncertainty surrounding leadership changes.

In its most recent quarterly report, the company disclosed a net loss of $116.8 million (or $0.86 per share) for the fiscal quarter ending July 31, alongside a 19% revenue drop to $70.3 million. C3 AI also withdrew its full-year forecast in September, citing management transitions and a restructuring of its sales and service operations.

The company’s leadership transition saw Salesforce veteran Stephen Ehikian assume the CEO role on September 1, succeeding Siebel, who has moved to the position of executive chairman after revealing an autoimmune disease causing severe visual impairment.

Siebel, a renowned Silicon Valley entrepreneur, is best known for founding Siebel Systems, which he sold to Oracle in 2005 for $5.85 billion.

C3 AI’s board includes several prominent figures, such as former U.S. Secretary of State Condoleezza Rice, Fortune CEO Alan Murray, and former Apple general counsel Bruce Sewell.

C3.ai Raises Annual Revenue Forecast Amid Strong AI Software Demand

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C3.ai, a prominent enterprise artificial intelligence (AI) software provider, has increased its revenue forecast for fiscal year 2025, citing strong demand for its solutions that help organizations streamline workflows. The California-based company now projects revenue between $378 million and $398 million, up from its earlier range of $370 million to $395 million.

Following the announcement, C3.ai’s shares surged 14.8% in extended trading.

Growth Drivers

C3.ai specializes in software for enterprises to develop AI applications across key sectors such as energy, manufacturing, financial services, and healthcare. The company’s enhanced performance is partly attributed to its expanded partnership with Microsoft. As part of this collaboration, C3.ai has become the “preferred” AI application provider on Microsoft’s Azure cloud platform.

This partnership underscores C3.ai’s strategic position in the rapidly evolving AI industry. The company’s shares have risen more than 45% year-to-date, reflecting investor optimism in its long-term growth potential.

Financial Highlights

For the second quarter of fiscal 2025, C3.ai reported revenue of $94.3 million, marking a 29% increase from the same period last year and surpassing analysts’ expectations of $91 million, as per LSEG data.

On an adjusted basis, the company reported a smaller-than-expected loss of 6 cents per share, compared to analysts’ forecast of a 16-cent loss.

Market Outlook

The positive revenue outlook and strong quarterly results highlight the growing adoption of AI-driven enterprise tools. C3.ai’s continued growth could position it as a key player in AI software, especially as businesses increasingly integrate AI solutions to enhance efficiency and innovation.