Why C3.ai Stock Is Gaining on a Bad Day for Tech Stocks
C3.ai (NYSE: AI) stock is seeing significant gains in Thursday's trading. The move is somewhat surprising given that the broader market, and growth-dependent tech stocks in particular, is seeing sell-offs in conjunction with macroeconomic concerns.
C3.ai's share price was up 3.9% as of 3 p.m. ET, according to data from S&P Global Market Intelligence. Meanwhile, the S 500 and Nasdaq Composite indexes were down 0.4% and 0.9%, respectively.
C3.ai stock is gaining today following news that President Joe Biden is expected to sign an executive order on artificial intelligence (AI) next week. While the executive order is expected to include provisions that will regulate the development of AI technologies in order to ensure safety, it's also expected to embrace and bolster initiatives that will see artificial intelligence used as a national security tool.
Source Fool.com
