Shares of C3.ai, Inc. (AI) are moving up about 27 percent during Thursday's morning trading following the announcement that the United States Air Force Rapid Sustainment Office has raised the company's contract ceiling to $450 million through October 2029.
Currently, AI is trading at $29.37, up 27.50 percent, over the previous close of $23.02 on an average volume of about 3.9 million shares. The stock has traded in the range of $17.03 to $45.08 in the past one year on the New York Stock Exchange.
The company stated that the additional $350 million would support the scaling of C3 AI's predictive analytics and aircraft maintenance platform across the service's fleet and systems.
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