These 2 AI Stocks Are Vying to Be the Next Palantir. Are Either of Them Buys?
Can anyone catch Palantir?
Palantir Technologies (NASDAQ: PLTR) is one of the greatest success stories on the stock market in recent years. Shares of the secretive data analytics company are up nearly 1,700% since the start of 2023, an incredible feat for a company that had been largely forgotten following a crash after its 2020 IPO and the bear market of 2022.
Palantir's resurgence owes in large part to its Artificial Intelligence Platform (AIP), which launched in 2023. The platform accelerates the power and utility of Palantir's software suite, allowing users to easily find and organize the information they need by using AI agents and a chat-based interface.
The software-as-a-service (SaaS) company benefits from a long history of serving the government, primarily focusing on defense and counterterrorism, which allowed it to hone and improve its product. Since the launch of AIP, its U.S. commercial business soared, showing its technology is gaining adoption among enterprise customers, a huge addressable market for Palantir.
