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Why C3.ai Stock Jumped 49% in March

TheMotleyFool

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Why C3.ai Stock Jumped 49% in March: https://g.foolcdn.com/editorial/images/726926/artificial-intelligence-investing-algorithms.jpg

Shares of C3.ai (NYSE: AI), the software-as-a-service platform that delivers artificial intelligence (AI) capabilities to enterprise-level customers, were surging last month after another round of hype around AI seemed to push the stock higher.

According to data from S&P Global Market Intelligence, the AI stock finished the month up 49%. As you can see from the chart below, the bulk of those gains came at the end of the month after Elon Musk, Steve Wozniak, and other tech luminaries signed an open letter urging a pause in AI research for fear the new technology can do more harm than good. The stock also jumped at the beginning of the month after the company reported fiscal third-quarter earnings.