This AI Stock Is a Strong Buy – Here’s Why

Date:

Palantir Technologies Inc., a big data firm that offers enterprise software to the government and commercial businesses, recently showed its AI ambitions in its first-quarter earnings call. The move to integrate its data capabilities with AI is promising and has excited investors. With big tech companies like Microsoft, Alphabet, Amazon, and Nvidia dominating the AI space, Palantir has remained under the radar. However, Palantir’s Artificial Intelligence Platform (AIP) has the potential to make a huge impact on both the public and private sectors.

Palantir offers software that synthesizes unstructured data from disparate systems to provide actionable insights. Palantir’s clients include financial institutions like Wall Street banks, healthcare companies, supply chain operations, and the government. Cathie Wood, a tech investor and media darling, had invested in Palantir in 2020 and 2021. She later sold her stake due to concerns about the company’s growth prospects and the competitive landscape. However, Wood surprised investors by buying Palantir stock back, following the unveiling of the AIP.

The AIP can be used to detect harmful equipment and adversaries in the area, deploy drones to capture specific imagery, and provide different game plans and scenarios for military simulation. Furthermore, Palantir’s large language models (LLMs) can be utilized in areas like fraud and identity theft, logistics and inventory management, and so much more. When Palantir released its Q4 2022 earnings in February, its full-year 2023 revenue guidance was between $2.18 billion to $2.23 billion. After the announcement of AIP, Palantir slightly raised its revenue guidance. Although AIP is still in its early days, customer demand for it is high, and the updated guidance may very well be underestimated as the need for AI continues to grow.

See also  US DOJ and FTC Launch Antitrust Probe into AI Giants Microsoft, OpenAI, and Nvidia

Palantir stock has risen by over 60% in the last month due to the promising development in AIP that could make it a player in AI. While it is difficult to recommend waiting to purchase Palantir’s stock, it is recommended to dollar-cost average into the stock. Compared to other companies in the AI space, Palantir’s stock is not fully priced in, and investors have yet to see it as a player in AI. The stock looks like a fantastic buy at its current valuation and could very well be a discounted AI play.

Frequently Asked Questions (FAQs) Related to the Above News

What is Palantir Technologies Inc.?

Palantir Technologies Inc. is a big data firm that offers enterprise software to government and commercial businesses.

What was Palantir's first-quarter earnings call focused on?

Palantir's first-quarter earnings call showcased the company's AI ambitions and its move to integrate data capabilities with AI.

Who are Palantir's clients?

Palantir's clients include financial institutions like Wall Street banks, healthcare companies, supply chain operations, and the government.

What is Palantir's Artificial Intelligence Platform (AIP)?

Palantir's Artificial Intelligence Platform (AIP) synthesizes unstructured data from disparate systems to provide actionable insights. It can be used in various areas like logistics, inventory management, military simulation, fraud, and identity theft.

What is Palantir's LLM?

Palantir's LLM or Large Language Model can be utilized in various areas like fraud and identity theft, logistics and inventory management.

How much revenue did Palantir forecast for full-year 2023?

Palantir forecasted full-year 2023 revenue between $2.18 billion to $2.23 billion after releasing its Q4 2022 earnings in February.

Why is Palantir considered a strong buy?

Palantir's AI ambitions and its AIP development have excited investors and could potentially make a huge impact on both the public and private sectors. The stock is not fully priced in compared to other companies in the AI space, making it a discounted AI play.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

Meera Mehta
Meera Mehta
Meera is our dedicated writer and manager for the AI Stocks category. With her expertise in finance and a deep interest in the AI industry, Meera keeps a close eye on AI-related stocks and market trends. Her articles provide valuable insights into the financial aspects of AI, helping investors navigate this exciting and dynamic sector.

Share post:

Subscribe

Popular

More like this
Related

Google Pixel Update Unveils AI Integration, Enhanced Features

Discover the latest Google Pixel update unveiling AI integration and enhanced features, rolling out gradually in the upcoming June Feature Drop.

Rare Unsupervised Play Captures Essence of Childhood in Outback Australia

Experience the essence of childhood in Outback Australia through rare unsupervised play captured in stunning color photography at the 1839 Awards.

Satisfi Labs Acquires Factoreal to Revolutionize Customer Engagement with AI

Satisfi Labs acquires Factoreal to revolutionize customer engagement with AI, enhancing Conversational Experience Platform capabilities.

Google Translate Revolutionizes Language with Custom Machine Learning

Google Translate is revolutionizing language with custom machine learning, improving accuracy and communication across various domains.