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C3 AI and Baker Hughes Renew and Expand Joint Venture Agreement

1. C3 AI and Baker Hughes renew strategic partnership until June 2028. 2. The partnership boosts AI-driven solutions in oil and gas industries. 3. C3 AI has generated over $500 million in O&G revenue. 4. C3 AI's products enhance efficiency, sustainability, and operational visibility. 5. Expansion to include more AI solutions for Baker Hughes' internal use.

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Why Bullish?

C3 AI's sustained growth and revenue generation indicate strong market demand. Historical examples show similar partnerships boosting tech companies' stock prices.

How important is it?

The ongoing collaboration signifies a solid business model for AI solutions in energy. This strategic partnership can inspire investor confidence and attract attention from similar sectors.

Why Long Term?

The renewal extends the collaboration until 2028, promising steady revenue growth over time. Similar long-term partnerships in the tech sector have proven beneficial.

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-Multi-year collaboration to continue acceleration of AI-driven transformation in the energy and industrial sectors REDWOOD CITY, Calif.--(BUSINESS WIRE)--C3 AI (NYSE: AI), the Enterprise AI application software company, and Baker Hughes, an energy technology company, today announced a multi-year renewal and expansion of their joint venture agreement through June 2028. Under the terms of the agreement, C3 AI and Baker Hughes will continue to develop, deliver, and market Enterprise AI solutions to the oil and gas and chemical industries. Since establishing the joint venture in 2019, C3 AI and Baker Hughes have deployed Enterprise AI solutions to Shell, Eni, QatarEnergy LNG, Petronas, ExxonMobil, LyondellBasell, Flint Hills Resources, and more. For customers, these solutions have delivered efficiency and sustainability gains by optimizing production, reducing unplanned downtime, and enhancing operational visibility. C3 AI will also continue to deliver Enterprise AI solutions for internal use at Baker Hughes, who will expand deployments of C3 AI Sourcing Optimization, C3 AI Inventory Optimization, and the C3 AI Sustainability Suite. “It’s difficult to overestimate the importance of the Baker Hughes partnership to C3 AI and its shareholders,” said Thomas M. Siebel, Chairman and CEO, C3 AI. “This alliance continues to bring us enormous credibility and market access in oil and gas globally. As a result, we have generated more than half a billion dollars in revenue from the O&G and chemical markets. We are most pleased to expand and extend this strategic partnership with Baker Hughes.” “C3 AI continues to be an important strategic partner of Baker Hughes, supporting our digital transformation and enabling the delivery of Enterprise AI solutions to our customers to drive safer, more sustainable and more productive operations by leveraging the power of Enterprise AI across the energy and industrial value chain,” said Lorenzo Simonelli, Chairman and CEO, Baker Hughes. Since the initiation of this strategic agreement of 2019, C3 AI and Baker Hughes have renewed and amended this agreement four times. Under the renewal, the companies will increase market activities, continuing and expanding work across the energy and industrial sectors. About C3.ai, Inc. C3 AI is the Enterprise AI application software company. C3 AI delivers a family of fully integrated products including the C3 Agentic AI Platform, an end-to-end platform for developing, deploying, and operating enterprise AI applications, C3 AI applications, a portfolio of industry-specific SaaS enterprise AI applications that enable the digital transformation of organizations globally, and C3 Generative AI, a suite of domain-specific generative AI offerings for the enterprise. More News From C3.ai

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