Keep an eye on C3.AI (AI).
We believe it could push aggressively higher, near-term. In fact, we’d like to see AI retest its prior high of about $34 shortly. Helping, Goldman Sachs just said generative AI could raise global GDP by 7% over the next 10 years.
“Despite significant uncertainty around the potential for generative AI, its ability to generate content that is indistinguishable from human-created output and to break down communication barriers between humans and machines reflects a major advancement with potentially large macroeconomic effects,” Goldman Sachs economists Joseph Briggs and Devesh Kodnani said, as quoted by GoldmanSachs.com.
Even better, AI just raised its outlook.
It now says, “total revenue for its fourth fiscal quarter was $72.1 million – $72.4 million, exceeding the company’s own guidance. C3.ai expects an adjusted operating loss of $23.7 million – $23.9 million, narrower than previous expectations of $24 million – $28 million.”
C3.AI also noted, “Overall business environment for enterprise AI is more active than we have seen since the company’s inception and seems to be accelerating” in its press release.