Core AI Shares Plunge 30.56% as Founder Departs, Revenue Falls 19%, Lawsuit Erupts

Core AI’s share price dropped to a record low today, with an intraday decline of 30.56% — the sharpest fall so far this month. The stock closed at its lowest level since its listing, reflecting mounting concerns over leadership instability, financial struggles, and legal challenges.

The selloff follows a series of setbacks for the company. Founder Thomas Siebel’s recent departure due to health issues triggered uncertainty, with his affiliated entities selling millions in shares through prearranged plans. Meanwhile, the firm reported a 19% year-over-year revenue drop to $70.3 million in Q1 2026 and a $116.8 million net loss. A class-action lawsuit alleging misrepresentations about growth and leadership further eroded investor confidence, compounding fears of operational inefficiencies and unmet expectations.

Broader market dynamics also weigh on Core AI. While blockchain competitors like Stellar advance real-world applications, Core AI’s failure to articulate a clear path to profitability has left it vulnerable to skepticism. With a 54% year-to-date price decline and no signs of near-term recovery, the stock faces prolonged pressure unless the company addresses governance, financial transparency, and competitive positioning. Analysts suggest the AI sector’s shift toward tangible results will likely keep Core AI in the spotlight — for now, in the wrong way.