C3.ai, Inc.’s (AI) shares have plummeted since its peak in June this year, primarily due to apprehensions surrounding the company's valuation and growth potential in the evolving AI landscape. Shares of AI have plunged 23.7% over the past month to close its last trading session at $31.22.
The company, set to release its fiscal 2024 first quarter (ended July 31) this week, has faced a continuous stream of annual losses, with a cumulative loss surpassing $269 million over the past four quarters. This financial situation is prompting concerns regarding the perceived overvaluation of the company, especially since the artificial intelligence hype seems to be fading.
