C3.ai (NYSE:AI) stock is on the move Wednesday after the enterprise artificial intelligence (AI) software company announced that it has expanded its partnership with Amazon (NASDAQ:AMZN).
According to a press release, this will see C3.ai build on its relationship with Amazon Web Services (AWS). This has it offering the business its AI solutions designed to address critical challenges for customers. That includes those in the manufacturing, power and utilities, as well as the consumer packaged goods markets.
Thomas Siebel, CEO of C3.ai, said the following about the collaboration in a news release:
“We’ve seen continued enthusiasm in the C3 Generative AI Suite since its launch, and as interest continues to grow, our collaboration is focused on building a quick and easy onboarding process so our shared customers can start seeing immediate value from generative AI.”
Why This Matters to AI Stock
An ongoing deal with Amazon shows that the company’s AI services are valued. It also continues a relationship that C3.ai has had with the AWS division of the company since 2016. Considering that history, it seems safe to say that Amazon is happy with the results it has seen so far from the company’s software.
AI stock is up 2.3% as of Wednesday morning as some 2.6 million shares change hands. The company’s daily average trading volume is about 8.1 million shares.
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On the date of publication, William White did not hold (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.
