C3 AI, Baker Hughes Extend Enterprise AI Partnership Through 2028

C3.ai has renewed and expanded its joint venture with Baker Hughes through June 2028, focusing on delivering Enterprise AI solutions to the oil, gas, and chemical industries. This partnership, established in 2019, has generated over half a billion dollars in revenue and has implemented AI technologies for major industry players such as Shell, ExxonMobil, and Petronas, enhancing operational efficiency, reducing downtime, and supporting sustainability goals. The collaboration also includes the internal use and expansion of C3.ai applications within Baker Hughes, such as sourcing and inventory optimization and sustainability suites. Despite a volatile market environment, C3.ai has demonstrated strong revenue growth and maintains financial flexibility to support its initiatives. Analysts project a significant upside potential with an average price target above the current share price, although the consensus brokerage rating remains at a neutral 'Hold'. The partnership continues to be pivotal for C3.ai's credibility and market access in the energy sector, aligning with broader digital transformation trends in the industry.