C3 AI
| Company type | Public |
|---|---|
| Industry | Software, Artificial intelligence |
| Founded | 2009 |
| Founder | Thomas Siebel |
| Headquarters | Redwood City, California , United States |
Key people | Stephen Ehikian (CEO), Thomas Siebel (Executive Chairman) |
| Products | Artificial intelligence solutions |
| Website | c3 |
C3.ai (presented as C3 AI) is a U.S.-based software firm that focuses on artificial intelligence solutions. Its headquarters are located in Redwood City, California. Established in 2009 by Thomas Siebel, the company went public on the New York Stock Exchange in 2020.
Effective September 1, 2025, Stephen Ehikian, previously the acting administrator of the General Services Administration, was named CEO of C3 AI on September 3, while Siebel continued his role as executive chairman.
History
The company was created by Thomas Siebel in 2009 under the name "C3," initially concentrating on corporate carbon footprint management. The "C" symbolized carbon, and "3" referred to the processes of measuring, mitigating, and monetizing emissions. Over time, the business operated briefly as C3 Energy and then as C3IoT before settling on its current designation.
IPO
On December 9, 2020, C3 AI launched its initial public offering (IPO), listing Class A common shares on the New York Stock Exchange under the symbol AI. The firm offered 15.5 million shares at a price of US $42.00 each, targeting gross proceeds near US $651 million. Simultaneously, Spring Creek Capital (linked to Koch Industries) and Microsoft invested US $100 million and US $50 million respectively through a private placement at the IPO price. The offering was managed by Morgan Stanley, J.P. Morgan, and BofA Securities, with Deutsche Bank Securities and other institutions acting as co-managers.
The net proceeds were designated for general corporate needs including working capital, operational costs, capital investments, and possible acquisitions. Before going public, on November 25, 2020, C3 AI executed a six-for-one reverse stock split affecting both common and preferred shares.
The company employs a dual-class share structure: Class A shares carry one vote each, whereas Class B shares hold fifty votes per share. CEO Tom Siebel and affiliated parties control all Class B shares plus approximately 33.29% of total outstanding stock after the IPO, equating to about 71.96% of voting rights. By April 30, 2025, Siebel owned roughly 87.8% of Class B common stock and nearly 19.4% of Class A shares, controlling close to 52.4% of overall voting power.
Shares of C3 AI more than doubled in value on their debut trading day, closing at US $92.49 and giving the company a market capitalization of around US $8.9 billion. The stock hit its peak closing price at US $177.47 on December 22, 2020, with an intraday high reaching US $183.90 the following day.
Following its IPO, C3 AI encountered skepticism from investors and criticism related to Siebel’s sale of shares worth hundreds of millions within months after going public.