C3.ai's (AI) CEO Tom Siebel on Morgan Stanley Technology, Media & Telecom Conference

C3.ai, Inc. (NYSE:AI) Morgan Stanley Technology, Media & Telecom Conference March 10, 2022 5:25 PM ET

Company Participants

Tom Siebel – Chairman and Chief Executive Officer

Conference Call Participants

Sanjit Singh – Morgan Stanley

Operator

All right. Good afternoon, everyone. We are almost wrapping update for the Morgan Stanley TMT Conference. I’m Sanjit Singh, infrastructure software analyst on the Morgan Stanley software team. I’m super thrilled to have Tom Siebel, CEO of C3.ai, looking forward to having a conversation on the C3 AI story.

Before I get there, we’ll go through some disclosures. For important disclosures, please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley representative.

Tom, this is true for me, this is the first time I got to spend some time with you on stage. You have a storied career in software. You’ve seen many cycles. I wanted to kick off the conversation, having been at Oracle, you were at a pretty revolutionary company in Siebel Systems, can you give us the sense of the story behind C3 AI? Was the premise on which the company was founded? And what was sort of the problem that you’re looking to solve for in this era of software?

Tom Siebel

After we sold Siebel Systems to Oracle in 2006, we started thinking about what was happening next in information technology. The business had grown since the time I joined Oracle in 1983 from about $200 billion globally to maybe $4 trillion. And it occurred to us that the next kind of big vectors on the information technology were going to be about elastic cloud computing, big data, the Internet of Things and predictive analytics. I understand at the time that we were doing this planning, AWS was selling about $1 million in software.