TECH - Momentum Investor Praises Palantir As 'AI Halo' Play Highlights Datadog As Software 'Bottoming Process' Sets In | Benzinga
Virtus Investment Partners‘ Joe Terranova is eyeing a couple of big data companies as the artificial intelligence (AI) story begins to tilt toward software.
What To Know: BofA Securities just added Palantir Technologies Inc (NYSE:PLTR) to its top 10 best U.S. ideas list for the third quarter. Monday on CNBC’s “Fast Money Halftime Report,” Terranova explained why he remains bullish.
“It’s become a popular name when you are thinking about AI and the AI halo. They’re clearly participating,” Terranova said.
Palantir has been a beneficiary of the AI boom, but below the highs it set in early 2021. BofA obviously sees more room for Palantir to run in the near term and Terranova agrees.
Palantir has had significant exposure to government contracts for a long time. Growth in the commercial side of ...