Is C3.ai Too Dependent on Oil & Gas?
C3.ai (NYSE: AI) is a pure-play artificial intelligence (AI) stock that has been on fire this year. It has more than tripled in value, and the company is expecting lots of growth ahead thanks to the excitement surrounding ChatGPT and the potential for AI solutions to transform industries.
But one of the criticisms around the business has been its reliance on oil and gas customers. Is that an issue investors should worry about? Let's take a look.
C3.ai recently reported its year-end earnings numbers (its fiscal year ended on April 30). Of the company's bookings for the year, 33.8% originated from companies within the oil and gas industry. And that has been one of the big concerns surrounding C3.ai -- it has been perhaps too dependent on oil and gas, and specifically its partnership with Baker Hughes.
Source Fool.com
