From Investor’s Business Daily: 2024-03-28 16:06:57

An analyst has downgraded Palantir Technologies, citing an inflated valuation due to generative artificial intelligence hype. The stock fell after the downgrade, closing at 23.01. Palantir stock is up 43% in 2024 but has retreated from its high. The company aims to use generative AI to drive growth in the commercial market after success with government clients. Palantir’s AI platform, launched in 2023, is gaining traction with commercial customers. Despite potential long-term benefits from AI trends, spotty execution and excessive valuation pose challenges for the company. Palantir stock holds high ratings but faces uncertainties in revenue streams.



Read more at Investor’s Business Daily: Palantir Stock Downgraded Amid ‘Unprecedented Generative AI Hype Cycle’