Billionaire Tom Siebel faces tumult at C3.ai as investor lawsuit, short sellers question metrics

Tom Siebel has been riding the artificial intelligence wave.

Three years after selling his prior software company, Siebel Systems, to Oracle for nearly $6 billion in 2006, he started C3.ai, a provider of AI solutions to businesses. That company, which went public in 2020, now sports a roughly $4 billion market cap and, in Siebel’s words, is “increasingly recognized as the gold standard in enterprise AI.”

But Siebel has a growing chorus of…