- Baker Hughes (BHGE -1.9%) says it entered into a joint venture agreement to include the purchase of a minority stake in California-based artificial intelligence company C3.ai for an undisclosed amount.
- BHGE says the JV will use artificial intelligence software to improve productivity and efficiency at oil and natural gas operations by ingesting massive quantities of data and predicting problems before they occur.
- "Integrating our strong digital capabilities and oil and gas industry expertise with C3.ai's unique AI solutions, we will accelerate the overall digital transformation of this industry," says BHGE Chairman and CEO Lorenzo Simonelli.