PLTR - Could Palantir Technologies Be a $1 Trillion Stock by 2030?
2024-05-04 11:15:00 ET
There's a lot of hype and excitement around Palantir Technologies (NYSE: PLTR) these days; in just the past 12 months, its shares have surged by 190%. The data analytics company has some promising growth prospects, particularly when it comes to artificial intelligence (AI) . Many investors are hopeful that the company can be the next big name in tech. Today, the business is worth around $50 billion. But with so much potential on the horizon, is it possible that this becomes a $1 trillion stock by the end of the decade?
On April 4, Palantir and database giant Oracle announced that they would be joining forces to provide cloud and AI solutions to both businesses and governments. Palantir is going to use Oracle's cloud infrastructure for its foundry workloads. And its AI platform will also be deployable on Oracle's cloud network.
Oracle, which has a market cap of around $320 billion, is a much larger tech company, and it can help Palantir potentially reach more customers by working together. By combining Palantir's advanced analytics solutions with Oracle's strong and reliable infrastructure, together the companies can provide businesses and government organizations with robust solutions.
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Could Palantir Technologies Be a $1 Trillion Stock by 2030?