Siebel-Led C3.ai More Than Doubles After $651 Million IPO

Tom SiebelPhotographer: F. Carter Smith/Bloomberg
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C3.ai Inc., the software maker founded by former Oracle Corp. executive Tom Siebel, rose 120% in its trading debut from the price in its $651 million initial public offering.

The shares closed Wednesday at $92.49 in New York, giving the company a market value of about $8.9 billion.