San Francisco, Jan 28, 2026, 09:28 PST
- A report reveals C3.ai is in talks to merge with Automation Anywhere, potentially taking the private firm public.
- C3.ai shares rose in early trading after the report, despite the stock having fallen more than 59% over the past year
- Automation Anywhere hit a $6.8 billion valuation in its 2019 funding round
C3.ai (AI.N) is said to be in merger discussions with Automation Anywhere, a private software firm, sources told The Information. Reuters has not confirmed the report, and neither company has commented so far.
If talks go well, Automation Anywhere aims to acquire the publicly traded AI company and go public via a reverse merger—a faster route than a standard IPO. This method allows a private company to access the stock market by taking control of a public firm.
C3.ai is dealing with this report during a turbulent stretch. Its stock has taken a steep dive, raising questions among investors about the company’s direction and management.
C3.ai shares jumped roughly 4% in early U.S. trading, hitting a high of $14.94 during the session—up nearly 19% from the prior close, market data showed.
C3.ai provides enterprise AI software aimed at building and managing large-scale AI applications. Its clients include the U.S. Air Force, serving industries like government, energy, and manufacturing, the report states.
Automation Anywhere builds software aimed at automating repetitive office tasks through robotic process automation (RPA). Their “bots” handle routine jobs like moving data between systems. In 2019, the company hit a $6.8 billion valuation, led by Salesforce Ventures in its funding round. SoftBank Investment Advisers and Goldman Sachs also backed the deal. CEO Mihir Shukla noted that “software bots” are transforming the interaction between people and technology. Automation Anywhere
In 2018, the company closed a $250 million funding round led by New Enterprise Associates and Goldman Sachs Growth Equity, with General Atlantic jumping on board as well. NEA’s Scott Sandell called the company “poised for long-term success” at the time. Automation Anywhere
In November, Reuters reported C3.ai was exploring a sale and other strategic options following CEO Thomas Siebel’s resignation due to health problems. Siebel revealed he suffers from an autoimmune disease that has caused “significant visual impairment.” On Sept. 1, Stephen Ehikian, formerly of Salesforce, took over as CEO. Reuters
By Tuesday’s close, Investing.com pegged C3.ai’s market cap at about $1.78 billion, highlighting a more than 7% jump in after-hours trading after the report. The site also pointed out that C3.ai’s valuation plunged by over 50% in 2025 amid growing doubts about its revenue and long-term plans.
But nothing’s set in stone yet. The report didn’t disclose any pricing, and talks could still fall apart. Even if the deal goes through, getting approvals and aligning product roadmaps, sales teams, and costs will be a major challenge.
This deal pairs a seasoned automation provider with a key player in enterprise AI software, both battling it out in a crowded field alongside UiPath in RPA and Palantir in data and AI. Automation Anywhere is often cited as one of UiPath’s main competitors.
