PLTR - Palantir's Artificial Intelligence (AI) Platform Soars. Is This the Stock's Secret Weapon?
2024-06-17 07:30:00 ET
Palantir (NYSE: PLTR) has been around as an artificial intelligence (AI) software company for a while. It started back in 2003 as a platform to help government intelligence agencies process data better. More recently, Palantir has expanded outside its core market into the public sector. Palantir's years of experience with AI, coupled with an impressive client list, gives credence to its product, but it also has a secret weapon that kick-started its growth, especially in the public sector.
Management has described the demand for this product as "unprecedented," which has fired up investors about Palantir's stock. So, what's Palantir's new product that has everyone buzzing?
While hundreds of companies have AI models built to perform specific tasks, there aren't many practical ways to integrate AI into a business's inner workings. Furthermore, many companies are worried that if they integrate their data into third-party AI models, their data could become compromised.
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Palantir's Artificial Intelligence (AI) Platform Soars. Is This the Stock's Secret Weapon?