Why C3.ai Stock Surged Higher Today

C3.ai (NYSE: AI) stock enjoyed another day of big gains Friday. The software and consulting specialist's share price closed out the session up 8.1% and had been up as much as 8.4% earlier in the day's trading. Meanwhile, the S&P 500 index ended the daily session up 0.25%, and the Nasdaq Composite index closed out the day up 0.8%.C3.ai gained ground today thanks to a promising political development and news that one of its competitors had forged a significant new defense partnership. With just a few weeks in the year remaining, the stock is now up roughly 41% across this year's trading.President-elect Donald Trump published a message on social media today announcing that he plans to name venture capitalist David Sacks as artificial intelligence (AI) and crypto czar in his administration. Some investors are interpreting the announcement as a signal that the incoming Trump administration will help to create favorable demand and regulatory backdrops and drive business for AI players. While it's too early to say what the net political effects for AI companies will look like under the new administration, there are good reasons to think that demand in key AI category verticals will remain very strong.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool