FY2019 – FY2025 · AI · CIK 1577526 · AS OF 2026-05-12
C3.ai Customers
Named C3.ai customers across commercial and federal sectors — the Baker Hughes anchor (oil & gas, partnership since June 2019, renewed and restructured April 2025), the federal / defense roster (USAF PANDA, DoD readiness applications, Army, Navy, GSA, State Department), and the commercial tail across energy, utilities, manufacturing, financial services, healthcare, and agribusiness. Sourced from the FY2025 10-K, C3.ai's own customer-stories page, post-FY2025 8-Ks and press releases, and US-government prime-contract awards on USAspending.gov. The named-customer roster is a subset of C3.ai's total customer base — many customers are anonymized in the 10-K's "Customer-Entity" framing by design, and this page covers only those named in a primary source.
Sibling pages: C3.ai Financials · C3.ai Leadership · C3.ai Products · Roster row: C3.ai on /orgs/.
Customer concentration — reproducing the FY2025 10-K's “Customer-Entity” framing verbatim
Top Customer-Entity (FY2025)
19%
Of FY2025 revenue. FY2024 was 27%; FY2023 was 35% — the high-water mark since IPO.
Second Customer-Entity (FY2025)
12%
Of FY2025 revenue. FY2024 was 14%.
Anchor partnership
Baker Hughes
Strategic partner in oil & gas since June 2019; renewed April 2025, no longer exclusive reseller.
Named-customer roster
—
Primary-source-confirmable. Total customer count in the 10-K is larger — many customers are anonymized by design.
C3.ai discloses its customer concentration in terms of Customer-Entities (the ultimate parent of any party contracting with C3.ai). For FY2025, two separate Customer-Entities accounted for 19% and 12% of revenue. For FY2024, two Customer-Entities accounted for 27% and 14%. For FY2023, a single Customer-Entity accounted for 35% of total revenue — the high-water mark for top-customer concentration since the December 2020 IPO. The largest customer relationship is with Baker Hughes, which has been C3.ai's strategic vertical-industry partner in oil & gas since June 2019. Source: FY2025 10-K, Note 2 (Concentration of Credit Risk and Significant Customers) & Note 12 (Related Party Transactions — Baker Hughes Company).
Anchor partnership · Oil & gas · Related-party (Note 12)
Baker Hughes — the partnership the customer-concentration story is built on
Founded: the strategic vertical-industry partnership was established in June 2019. C3.ai and Baker Hughes initially launched the partnership as a 50/50 joint venture (BHC3) to deliver C3 AI Applications — specifically reliability and predictive-maintenance applications — into the oil & gas industry. Baker Hughes was C3.ai's exclusive reseller in oil & gas under the original arrangement.
Renewed and restructured April 2025: under the April 2025 renewal, Baker Hughes is no longer C3.ai's exclusive reseller in oil & gas. The relationship continues as a strategic partnership but the exclusive-reseller arrangement was wound down — opening the oil & gas vertical to C3.ai's direct-sales motion. The renewal is the load-bearing structural event in the partnership's history.
Customer-concentration trajectory: Baker Hughes is the customer-entity behind the largest concentration figures the financials page surfaces. The FY2023 35%-single-Customer-Entity high-water mark is the peak; the FY2024 27% / FY2025 19% trajectory reflects both the broader customer base diversifying and the partnership renewal restructuring. The financials page's customer-concentration section carries the year-over-year detail.
Sources: FY2025 10-K, Note 12 (Related Party Transactions — Baker Hughes Company) · the partnership's Baker Hughes corporate site for the customer-side framing · the partnership-renewal disclosure in the April 2025 8-K and earnings-call commentary.
Federal / defense roster — contracting-vehicle methodology note
C3.ai's federal / defense work flows through multiple contracting vehicles: direct contracts with the relevant agency, OTAs (Other Transaction Authority) for prototyping work, IDIQ task orders (e.g. the Defense Innovation Unit vehicles), subcontracts via prime contractors, and an increasingly direct-contract motion under the post-restructuring strategy. USAspending.gov captures direct contracts and IDIQ task orders cleanly, but OTAs and subcontracts often surface incompletely — so the federal roster on this page draws on agency press releases and C3.ai's own announcements in addition to USAspending.gov. Cross-link: /data/federal-tech-spending/ carries the broader federal-tech-vendor context.
Named customers by industry
Industry counts reflect the named customers below, not C3.ai's full customer base. Federal / defense covers federal-agency customers regardless of contracting vehicle; commercial industries are derived from each customer's primary line of business per its own 10-K, About page, or industry classification.
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Named C3.ai customers
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About this list
Inclusion criterion. A customer appears here if a primary source — C3.ai's own customer-stories page, the most recent 10-K, a C3.ai press release, a customer-side press release or 10-K, a US-government prime-contract award on USAspending.gov, or an agency press release — publicly identifies the relationship. Customers C3.ai has only mentioned anonymously on earnings calls (“a major utility customer,” “a top-three U.S. bank”) are excluded by design.
Customer-Entity framing. C3.ai's 10-K customer-concentration disclosure anonymizes the top customers using the term Customer-Entity — the ultimate parent of any contracting party. The page surfaces the Customer-Entity percentages verbatim in the concentration callout above, and infers the Baker Hughes attribution from Note 12's Related Party Transactions disclosure. The page does not assign other Customer-Entity attributions speculatively; second-largest-customer attribution beyond Baker Hughes is not inferable from public sources.
Federal contracting-vehicle methodology. Federal / defense work flows through direct contracts, OTAs, IDIQ task orders, and subcontracts. USAspending.gov captures direct contracts and IDIQ task orders cleanly, but OTAs and subcontracts often surface incompletely — so the federal roster draws on agency press releases and C3.ai announcements in addition to USAspending.gov. The methodology callout above reiterates this caveat for any visitor cross-referencing USAspending.gov figures against this page's federal roster.
What's excluded. Anonymous earnings-call customers; suspected customers from news coverage that C3.ai hasn't publicly confirmed; per-customer pricing or contract values for commercial customers (almost never public); editorial framing about whether C3.ai's customer roster is too concentrated, too small, or otherwise reflects on the company's prospects. Product-line mapping lives on C3.ai Products; customer-concentration dollar context lives on C3.ai Financials; the Baker Hughes partnership history is covered above in the dedicated sub-section and on the financials page's Note 12 paraphrase.
Named-vs-total asymmetry. The named-customer roster on this page is a subset of C3.ai's total customer count. Many customers — especially smaller commercial customers and pre-disclosure federal customers — are anonymized in C3.ai's public disclosures by design. The page does not pretend the roster is exhaustive; it pretends to nothing it cannot source.
Data freshness. The customer roster on c3.ai/customers/ rotates as case studies are added and retired. This page is re-walked against the primary sources monthly — matching the cadence of the sibling C3.ai pages — to catch new named customers, status changes, the post-April-2026 C3 Code customer accumulation, and any Baker Hughes joint-venture-structure further evolution. The last updated stamp below reflects the most recent successful walk.
Last updated: . Not financial advice — this page presents publicly available data and does not recommend any position in AI or any commentary on the named customer organizations.