US Stock Market Move | C3.ai (AI.US) rises nearly 17% in premarket trading, rumored to be in talks to merge with automation unicorn Automation Anywhere.

As of the time of writing, C3.ai (AI.US) stock price surged nearly 16.90% in pre-market trading on Wednesday amid reports that the artificial intelligence company is in talks to merge with Automation Anywhere. Sources familiar with the matter stated that if the deal is reached, Automation Anywhere will acquire C3.ai and go public as part of the transaction. C3.ai is an enterprise-level artificial intelligence application software company, whose stock price has plummeted nearly 62% in the past year due to poor financial performance, strategic uncertainties, and leadership instability. Meanwhile, Automation Anywhere develops software that automates repetitive tasks, with a valuation of $6.8 billion by private investors in 2019.