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  "documentTitle": "C3.ai, Inc. (AI)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2022-02-16 00:00:00",
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  "notes": "Uses a red flag icon to signal a warning/contradiction. The diagram maps the flow of funds and alliances between C3.ai, Microsoft, and the DTI.",
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      "kind": "callout",
      "text": "Microsoft and C3.ai formed the Digital Transformation Institute (“DTI”) in March 2020. Microsoft then purchased $50.0m of equity pre-IPO, which is roughly the amount C3 is contributing to the DTI over five years of $57.25m. Microsoft is not contributing any cash, and providing approximately $2 million of “in-kind” technology. Microsoft and C3 also have a sale alliance as noted on the prior slides. Former C3 CFO David Barter, who recently resigned, came from Microsoft and was CFO of its Financing Division.",
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      "text": "Microsoft is not contributing any cash, and providing approximately $2 million of “in-kind” technology.",
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      "text": "Diagram showing relationships between C3.ai, Microsoft, and the DTI",
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      "kind": "quote",
      "text": "IP is for the public good. The developed IP will be open-sourced. It will be used royalty free but not exclusively. — C3.ai Prospectus",
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      "text": "Murky Financial Payment Relationships With Microsoft And The DTI",
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