C3.ai shares slide as revenue forecast fails to live up to AI hype

FILE PHOTO Artificial Intelligence words are seen in this illustration taken March 31 2023. REUTERSDado RuvicIllustration

FILE PHOTO: Artificial Intelligence words are seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/

(Reuters) - Shares of C3.ai Inc dropped nearly 20% in premarket trading on Thursday after the AI software maker's quarterly revenue forecast missed estimates, dampening some of Wall Street's recent euphoria around AI-linked stocks.

Most other small-cap artificial intelligence (AI) stocks fell after the disappointing outlook. AI analytics firm BigBear.ai, conversation intelligence firm SoundHound AI and Thailand's security firm Guardforce AI were down between 0.5% and 7.5%.

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