Long-time tech investor Paul Meeks says C3.ai, a pure play on artificial intelligence, could be a potential winner as it could be an acquisition target for tech giants. Stated. “C3.ai, one of the pure AI companies, will probably succeed in selling itself to one of the big tech cap companies at some point,” Meeks said on CNBC Pro Talks Wednesday. A portfolio manager at Independent Solutions Wealth Management said his forecasts are based on CEO Tom Siebel’s performance. Siebel sold his former software company Siebel Systems to his Oracle in 2006 for about $6 billion. Three years later he founded C3.ai, which provides AI solutions to companies. “Because that company is run by Tom Siebel. He worked for Oracle once in his career, then quit Oracle, founded a company, sold it back to Oracle and became a millionaire. That’s why he’s done it before,” Meeks said. AI YTD Mountain C3.ao According to Forbes, the 70-year-old Siebel’s net worth is close to his $4 billion. C3.ai uses his AI to predict problems ranging from fraud detection to helping companies optimize their operations. Over the years, it has attracted prominent clients including the US Department of Defense and oil and gas giants such as Shell and Baker and his Hughes. C3.ai’s stock has risen more than 260% this year alone.
