Shares of enterprise software firm C3.ai, which sells artificial intelligence technology, surged in their first few hours of trading in the public markets Wednesday. Led by former Oracle executive Tom Siebel, C3.ai raised $651 million in its initial public offering at a price of $42 per share, up from a range of $36 to $38. That implies a market capitalization of over $4 billion. C3.ai shares...
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The Electric: Western Auto and Battery Makers’ Big Gamble on Indonesian Nickel
For much of the last century, metals companies have made stainless steel from nickel mined in Russia or the Philippines and smelted at temperatures up to 2,900 degrees. But demand for nickel is outstripping supplies because the metal is a key component in most electric vehicle batteries. So metals producers have turned to a new supplier—Indonesia, which possesses vast reserves of a previously...
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