Close Menu

    Subscribe to Updates

    AITS newsletter
    What's Hot

    Get Fast and Safe Custom AI Solutions for Your Business

    December 6, 2023

    Maximizing Your Experience with the ChatGPT Voice Chat Feature – A Step-by-Step Guide

    December 6, 2023

    Discover the Benefits of Laser Rust Removal and Portable Laser Welders for Robotics and Automation

    December 6, 2023
    Facebook X (Twitter) Instagram
    • About Us
    • Contact Us
    • Disclaimer
    • Privacy Policy
    Facebook X (Twitter) Instagram Pinterest Vimeo
    AITS – AI Tools SoftwareAITS – AI Tools Software
    • Home
    • AI in Business
    • AI solutions
    • AI Tools
    • Automation for Business
    • ChatGPT
    • OpenAI
    Subscribe
    AITS – AI Tools SoftwareAITS – AI Tools Software
    Home»AI solutions»Shocking Plunge in AI Darling’s Stock Sends Shockwaves through Wall Street, Amplifying Scrutiny on Technology
    AI solutions

    Shocking Plunge in AI Darling’s Stock Sends Shockwaves through Wall Street, Amplifying Scrutiny on Technology

    Tom KuBy Tom KuSeptember 7, 2023No Comments3 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The whole AI scene is evolving, man. At one point, everyone was going nuts about the potential of artificial intelligence and tech stocks were flying high. Wall Street strategists were all like, “This is it, man! The stock market is gonna soar!” But now, investors are getting back to basics, focusing on the fundamentals, you know?

    So, the other night, C3.ai, this AI software company, announced their earnings. Their stock had been on fire, up over 200% this year. But get this, they expect to make around $295 to $320 million in revenues by 2024, which is cool and all, pretty much in line with what Wall Street expected. But here’s the kicker, their operating income losses are projected to be around $70 to $100 million now. They used to predict losses of $50 to $70 million. And guess what? They don’t even expect to be profitable on a quarterly basis by the end of 2024 anymore.

    According to the CEO, Thomas Siebel, they’re investing in generative AI, lead generation, branding, market awareness, and market and customer success related to generative AI solutions. It’s a whole new game plan, man. But investors didn’t dig it, and the stock dropped more than 15% when the market opened on Thursday. It later recovered a bit, but still, a 12% loss is no joke.

    JPMorgan analyst Pinjalim Bora ain’t too thrilled either. In a note, he said that the company’s revenue ain’t gonna skyrocket enough to justify all this investment in generative AI. Some other big players in AI, like Microsoft, Snap, and AMD, also saw their stocks take a hit recently. Like, for Microsoft, the AI contributions to revenue are gonna be a slow burn, man. And Snap, well, the rising cost of AI investment was a buzzkill for their shares. Even AMD, which is all about AI accelerators reaching over $150 billion by 2027, made analysts think expectations might be too high.

    It seems like we’re in the “show me” stage, as Citigroup’s Scott Chronert puts it. He believes that the influence of AI on S&P 500 earnings in the long run is still important, but expectations need to simmer down and adjust to reality, you know?

    But even companies that are actually proving AI’s impact on their business ain’t seeing their stocks shoot through the roof. Take Nvidia, for example. They crushed it in the recent quarter, with adjusted earnings up a whopping 429% compared to last year. And they’re projecting next quarter revenue to be around $16 billion, which is almost 30% higher than what Wall Street expected. But their stock only rose by 0.1% the next day. Since they reported earnings on August 23, their shares have gone down about 3%.

    So, man, even if companies are showing that AI is changing the game for them, their stock prices ain’t insane like they were before. People are wondering if the AI rally has run its course, if stock valuations are just too damn high.

    Oh, and check this out, there’s a photo of Nvidia CEO Jensen Huang. This dude is making moves in the AI world, speaking at the Taiwan Semiconductor Manufacturing Company. Big things are happening, man.

    Alright, that’s all the scoop for now. This is Josh Schafer reporting for Yahoo Finance. Keep an eye on the latest stock market news and in-depth analysis, ’cause you don’t wanna miss a thing. And hey, don’t forget to read the freshest financial and business news from Yahoo Finance, man. Stay tuned!

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleCISOs Find Meatbag Mishaps More Menacing than Malware – What Do You Think?
    Next Article AT&T Harnesses Groundbreaking AI Technology to Revolutionize Employee Support and Empowerment
    Tom Ku
    • Website

    Related Posts

    AI solutions

    Breaking News: ProBit Global Gives Exclusive Access to AI-Powered Web3 Projects Through ChainGPT Listing – Click Here to Learn More!

    December 6, 2023
    AI solutions

    Revitalize Your Workspace Connection with Yealink AI Meeting Solutions: Meetings Reimagined Just for You

    December 5, 2023
    AI solutions

    Singapore launches groundbreaking $52 million AI language development initiative

    December 5, 2023
    Add A Comment

    Comments are closed.

    Breaking News AI Tools

    Get Fast and Safe Custom AI Solutions for Your Business

    December 6, 2023

    Maximizing Your Experience with the ChatGPT Voice Chat Feature – A Step-by-Step Guide

    December 6, 2023

    Discover the Benefits of Laser Rust Removal and Portable Laser Welders for Robotics and Automation

    December 6, 2023

    IBM and Meta join forces to revolutionize open-source development with new AI alliance

    December 6, 2023

    Breaking News: ProBit Global Gives Exclusive Access to AI-Powered Web3 Projects Through ChainGPT Listing – Click Here to Learn More!

    December 6, 2023

    IBM and Meta Unveil Game-Changing AI Alliance for Safe, Open AI

    December 6, 2023

    Overcoming fears of generative AI in business intelligence

    December 5, 2023

    “Join the AI Alliance: Tech leaders unite for open and responsible AI” – The Register

    December 5, 2023

    Introducing the TL400 Non-Intrusive Laser Sensor by Novus

    December 5, 2023

    Discover the Top 5 AI Education Stocks for Potential Growth | Start Investing Today!

    December 5, 2023

    Revitalize Your Workspace Connection with Yealink AI Meeting Solutions: Meetings Reimagined Just for You

    December 5, 2023

    Meta and IBM join forces to promote ‘Open Science’ AI – find out more!

    December 5, 2023

    AI Revolution: How Marketing Will Transform in 2024 with Mindful Machines

    December 5, 2023

    New ChatGPT Data Breach Revealed: Extracted Training Data

    December 5, 2023

    Is Cathie Wood’s Top AI Stock Soaring: Should You Buy Now?

    December 5, 2023

    Singapore launches groundbreaking $52 million AI language development initiative

    December 5, 2023

    Legal experts rally to defend AI lawsuits as wave of legal battles rise

    December 5, 2023

    “Europe’s ground-breaking AI regulations in critical do-or-die phase” – Business

    December 5, 2023

    Implementing Responsible and Ethical AI Workflows Using IBM Watsonx.governance, ETCIO SEA

    December 4, 2023

    Unlocking ChatGPT’s Data Science Cheat Sheet for Essential Knowledge

    December 4, 2023

    Discover the Latest Innovations in Robotics and Automation – Your Solution to Emerging Challenges

    December 4, 2023

    HEALWELL AI Acquires Pentavere, a Top Healthcare AI and Data Science Company – Find Out More!

    December 4, 2023

    OpenAI acquires $51 million worth of AI accelerator chips from Rain AI

    December 4, 2023

    Unveiling the Impact of Generative AI: One Year of ChatGPT on Cybersecurity

    December 4, 2023

    ‘UK Report Reveals How AI Will Impact Business Analysts and Financial Managers’

    December 4, 2023

    OpenAI Seeks GPT-6 & GPT-7 Trademark in Lucrative Chinese Market

    December 4, 2023

    5 Ways AI Can Supercharge Back-office Employee Productivity

    December 4, 2023

    Exciting news: Presight partners with Samruk Kazyna to drive digital transformation in Kazakhstan

    December 4, 2023

    Elon Musk Urges OpenAI to Speed Up Progress Before Departure, According to New York Times

    December 4, 2023

    Revolutionary: India harnesses AI technology to preserve its 121 diverse languages

    December 4, 2023
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    85
    AI solutions
    2 Mins Read

    Pico 4 Review: Should You Actually Buy One Instead Of Quest 2?

    Tom KuJanuary 15, 2021 Uncategorized
    8.1
    Uncategorized
    2 Mins Read

    A Review of the Venus Optics Argus 18mm f/0.95 MFT APO Lens

    Tom KuJanuary 15, 2021 Uncategorized
    8.9
    Ai in Business
    6 Mins Read

    DJI Avata Review: Immersive FPV Flying For Drone Enthusiasts

    Tom KuJanuary 15, 2021 Uncategorized

    Subscribe to Updates

    Join the Premium AITS AI Newsletter FREE for Life!

    AITS newsletter
    Most Popular

    Microsoft Co-Founder Bill Gates Visits EU, Steers Clean Energy Talks

    January 11, 2020

    Tablet PC Market to Witness Exponential Growth by 2028, Sources Say

    January 11, 2020

    Save $25 on Philips Wired Headphone For A Great Sounding Over-Ear Headphone

    January 12, 2020
    Our Picks

    Get Fast and Safe Custom AI Solutions for Your Business

    December 6, 2023

    Maximizing Your Experience with the ChatGPT Voice Chat Feature – A Step-by-Step Guide

    December 6, 2023

    Discover the Benefits of Laser Rust Removal and Portable Laser Welders for Robotics and Automation

    December 6, 2023

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    AITS newsletter

    Type above and press Enter to search. Press Esc to cancel.