RTTNews | Dec 10, 2021 07:25AM EST

07:25 Friday, December 10, 2021 (RTTNews.com) - Shares of C3.ai, Inc. (AI) are up more than 19% in pre-market on Friday after the enterprise AI software company bagged $500 million worth contract from U.S. Department of Defense (DoD).

The five-year, "Production-Other Transaction" Agreement with the DoD allows any DoD agency to acquire C3 AI products and services for modelling and simulation.

"The new Agreement has a DoD-wide scope, accelerating research projects in simulation and modelling and production deployments for operations and sustainment," said Thomas M. Siebel, CEO of C3 AI.

C3.ai stock closed Thursday's regular trade at $32.09, down $1.90, or 5.59%. It is currently at $38.20.

Read the original article on RTTNews ( https://www.rttnews.com/3248477/c3-ai-surges-on-receiving-500-mln-us-defense-contract.aspx)

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