Palantir stock prices surge due to Artificial Intelligence Platform and commercial growth

From NASDAQ.: 2024-10-13 05:10:00

Palantir Technologies (NYSE: PLTR) has seen a surge in stock prices thanks to its Artificial Intelligence Platform (AIP) and commercial customer growth, with revenue climbing in both government and commercial sectors. While the stock may seem expensive now, the early stages of AIP growth and high demand paint a bright future for the company.

The launch of AIP has driven double-digit revenue growth for Palantir, with U.S. commercial revenue increasing 55% and the customer count jumping 83%. The company’s innovative AIP boot camps are helping to drive significant growth, evident in the latest quarterly net income of $134 million — the highest ever recorded for Palantir.

Investing in Palantir at its current high valuation may not be suitable for all investors. While the stock looks expensive compared to other tech players, the potential growth in AIP and the AI market could offer substantial gains in the long term. For growth investors willing to pay a premium now, Palantir may be a promising investment option.



Read more at NASDAQ.: Palantir Stock: Buy at the High?