2024-06-30 04:47:00 ET
Artificial intelligence (AI) has dominated the market to start 2024. Nvidia recently became the most valuable company in the world and is up more than 150% year to date (YTD). Investors are betting that AI is going to be a huge market opportunity as the large technology players spend tens of billions on it.
Palantir Technologies (NYSE: PLTR) is one of these AI companies. Shares are up 40% YTD with accelerating revenue growth as customers adopt its intelligent software and analytics tools. Where will this AI winner land by the end of 2024? Let's take a closer look and find out.
At its core, Palantir builds custom advanced analytics software. Customers range from the United States military and its allies (U.S. government revenue was more than $250 million last quarter alone) to the private sector. Corporations -- especially larger ones -- utilize Palantir's tools to analyze operations and track how a business is performing.
For further details see:
Palantir Stock Is Up 40% So Far This Year. Where Will This AI Winner Land at the End of 2024?