C3.ai (AI.US) CEO's health issues lead to major drop in stock price, Wedbush says likelihood of acquisition increases

The possibility of C3.ai (AI.US) being acquired has significantly increased, as the company previously announced that they are looking for a successor for CEO Tom Siebel due to health issues. Wedbush analyst Dan Ives wrote in a report on Thursday, "We believe that with the news of Siebel stepping down as CEO, the likelihood of C3.ai being acquired in the next 3 to 12 months has significantly increased." He gave C3.ai stock an "outperform" rating and set a target price of $35. Ives believes that C3.ai "is a highly attractive acquisition target because the company focuses on the integration of artificial intelligence, big data, and cloud computing." C3.ai Chairman and CEO Siebel stated in a declaration, "Since being diagnosed with an autoimmune disease in early 2025, my vision has severely deteriorated. In order to fully realize C3.ai's potential - which I believe is tremendous - the board and I have begun the search for a new CEO to lead the company into its next phase of success." Following the news of the CEO's impending departure, C3.ai's stock price dropped by 9.5%, ultimately closing down 10.84% on Thursday.