This Artificial Intelligence (AI) Software Stock -- a 1,090% Gainer Since Its IPO -- Could Soar Another 285%, According to Dan Ives. Is It Time to Buy Like There's No Tomorrow?
Palantir Technologies stock has risen exponentially over the last few years thanks to soaring demand for its AI software.
Artificial intelligence (AI) is redefining how businesses across every major sector are operating. From enhanced analytics, automating mundane tasks in the workforce, and even building self-driving cars, it seems like AI is extending its influence across the entire economy.
One company that has benefited greatly from AI is Palantir Technologies (NASDAQ: PLTR). Sure, demand for AI-powered software services has been a bellwether for Palantir over the last couple of years. At a deeper level, though, AI has essentially transformed Palantir's entire operation.
For most of its history, skeptics on Wall Street viewed Palantir as no more than a glorified consulting business working closely with the Department of Defense (DOD). While much of Palantir's business still revolves around government contracts, rising interest in AI has fueled a new wave of potential for the company -- particularly in the private sector.
