Nvidia’s impressive earnings report strengthens the AI industry’s upward trajectory.
Shares of C3.ai, Inc. (NYSE: AI) witnessed a 7.04% increase in trading Wednesday, riding on the continued momentum of artificial intelligence (AI) stocks. The surge reflects growing optimism within the AI sector, as numerous companies rush to integrate AI technology into their products and operations. This trend was further reinforced by Nvidia’s exceptional earnings report.
C3.ai has emerged as one of the most sought-after tickers on Benzinga Pro during the second quarter, ranking closely behind tech giants NVIDIA Corporation (NASDAQ: NVDA) and Advanced Micro Devices, Inc. (NASDAQ: AMD).
However, not all analysts share the same positive sentiment. Deutsche Bank recently reiterated its Sell rating on C3.ai. Piper Sandler, on the other hand, maintained a Neutral rating while setting a price target of $29. In addition, Oppenheimer initiated coverage on C3.ai, offering a Perform rating.
The overall market exhibited volatility this afternoon following the release of the Federal Reserve Minutes, which indicated the possibility of further interest rate hikes later this year.
