c3ai
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AI! Computers making intelligent decisions! New paradigm! Old laws don’t apply anymore! Long live the bull market! …Really? Yes, AI is transformative. It already starts to enhance multiple businesses, just like the Internet did many years ago. And as many thought cryptocurrencies would. But it doesn’t mean that the huge transformation will happen overnight! Or that it fixes everything with regard to the world’s problems in general or with the economic situation. However, as always, markets – that are ultimately made of people (and bots that were programmed by people, anyway) – are emotional in...
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The buzzy AI stock takes a plunge following allegations of ‘serious accounting and disclosure issues’ by short-seller Kerrisdale Capital Kerrisdale claims that C3’s business is built on outdated analytics models and that its customer traction and sales partnerships are failing. Kerrisdale also expressed concerns about the company’s accounting practices, alleging that it has used “highly aggressive accounting” to inflate its income statement metrics. Q1 2023 hedge fund letters, conferences and more Find A Qualified Financial AdvisorFinding a qualified financial advisor doesn't have to be hard. ...
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Kerrisdale Capital sent a letter today to C3.ai Inc (NYSE:AI)’s signing audit partner and the head of the U.S. audit & assurance practice at Deloitte & Touche LLP regarding serious accounting and disclosure issues they have identified in C3.ai‘s SEC public financial statements. C3’s fiscal year ends on April 30, and Kerrisdale have asked Deloitte to review their letter in anticipation of its upcoming work conducting the company’s year-end audit. In the letter, they discuss: Q1 2023 hedge fund letters, conferences and more The highly conspicuous growth in unbilled receivables to levels we’ve ne...
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Kerrisdale Capital is short shares of C3.ai Inc (NYSE:AI), a $4 billion market capitalization enterprise software company that has risen from the ashes of its busted IPO based on the misconception that its self-proclaimed “AI leadership” somehow positions it to benefit from Silicon Valley’s current tech theme du jour: generative AI as represented by media obsession ChatGPT. We believe these speculative flames won’t burn bright much longer, as the realities of C3’s poor customer traction, failing sales partnerships, and financial pressures will catalyze what is likely to be a painful reality ch...
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In the end, the hype over AI stock makes us weaker as a country Q1 2021 hedge fund letters, conferences and more A few years ago, Russian President Vladimir Putin stated that whoever becomes the leader in artificial intelligence “will be the ruler of the world.” Predictably, that sent shockwaves across the globe but particularly in western nations as this admission only incentivized companies like C3.ai (NYSE:AI), drawing investors excited about the prospects for AI stock. Unfortunately, the hype over its initial public offering late last year has quickly faded. Since a Feb. 9 close of just sh...
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