Business Wire released news today that Major General Martin F. Klein is joining C3.AI (NYSE:AI) in the position of Senior Vice President for Defense and Intelligence. He will join the executive team and oversee defense and intelligence operations for AI stock.
Thomas M. Siebel, Chairman and CEO, said, “With his strong executive abilities, private sector experience and extensive government service, General Klein will be an indispensable member of C3 AI’s leadership team allowing us to better serve the U.S. defense and intelligence communities.”
In his most recent role, General Klein served as the Chief Operating Officer of the Department of Defense’s Joint Artificial Intelligence Center.
General Klein stated, “Our defense and intelligence communities are on the precipice of fully embracing all the potential that commercial software and data provide to overmatch near-peer adversaries and assuring information dominance. I can’t think of a better software platform, or company, to accelerate our nation’s security transformation into the digital era.”
Lieutenant General (Retired) Ed Cardon, former commander U.S. Army Cyber Command and Chairman of C3 AI Federal Systems, said, “He joins the company at a pivotal time, especially as the defense and intelligence agencies are expanding the use of enterprise level AI solutions and capability with C3 AI.”
C3.AI is a leading artificial intelligence (AI) software provider for accelerating digital transformation. The company has developed the C3.AI Application Platform. It partners with leading cloud, technology and services companies to solve problems by utilizing its patented AI and Internet of Things (I0T) solutions.
AI stock is expected to report earnings on June 1. Zacks Investment Research, based on two analysts’ estimates, forecasts an earnings per share (EPS) loss of 58 cents for fourth-quarter 2022. The reported EPS for the same quarter last year was a loss of 24 cents. TipRanks, based on eight analysts’ ratings, forecasts an EPS loss of 29 cents for Q4 2022.
C3.AI is a promising company, and this recent development is positive. But investors should consider waiting for a better earnings performance before buying AI stock.
On the date of publication, Max Isaacman did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.