Artificial intelligence software company C3.ai is reportedly considering a potential sale, according to people familiar with the matter. The move comes after founder and long-time leader Thomas Siebel stepped down due to health issues, marking the start of a turbulent transition period for the company.

Sources said the sale process remains in its early stages, with other strategic options — including raising capital from private investors — also under discussion. C3.ai has not yet commented on the reports.

Since the beginning of 2025, C3.ai’s share price has plunged more than 54%. In the first fiscal quarter ended July 31, the company’s revenue fell 19% year-on-year, while it posted a net loss of $116.8 million.

Investor concerns have deepened since September 3, when C3.ai withdrew its full-year financial guidance following a leadership reshuffle and business restructuring, fueling uncertainty about the company’s strategic direction.