C3.ai Falls 30% on ‘Unacceptable’ Results, CEO Health Struggles

C3.ai, an artificial intelligence software company, saw its stock price plummet by 30% in premarket trading due to a significant sales miss. The company attributed the disappointing results to the health struggles of its founder and CEO, Thomas Siebel. C3.ai reported revenue of $66.7 million for the quarter, significantly lower than the expected $68.8 million. The company's management described the results as "unacceptable" and acknowledged the impact of Siebel's health on the business. Despite the challenges, C3.ai maintained its full-year revenue guidance, suggesting that the company believes the issues are temporary. The company also noted that it is taking steps to strengthen its operations and management team to address the current situation. The news has had a significant impact on the company's stock price, with investors reacting negatively to the unexpected setback. The company's future performance will be closely watched as it navigates the challenges posed by Siebel's health concerns and works to regain investor confidence.