AI stocks surge after C3.ai’s strong forecast

Shares of artificial intelligence-based (AI) product makers zoomed in premarket trade, as a strong forecast by retail investor darling C3.ai Inc amplified an ongoing euphoria driven by the launch of OpenAI’s ChatGPT.

C3.a1 forecast a better-than-expected revenue and profit for both the fourth quarter and fiscal year 2023, after the AI software company posted third-quarter results that topped Wall Street estimates.