The advent of artificial intelligence (AI) last year caught many market watchers by surprise, particularly with how quickly it changed the paradigm among some of the world's most valuable companies. ceded the top spot to Microsoft, which now rules the roost with a market cap of over $3 trillion. Nvidia moved quickly up the charts to assume the No. 3 spot behind Apple with a market cap of $2.3 trillion, spurred on by its gold-standard AI chips. Alphabet, Amazon, and Meta Platforms -- each with their own AI solutions -- are also members of this prestigious fraternity.

With Palantir Technologies' (NYSE: PLTR) market cap of just $54 billion (as of this writing), it might seem like a longshot to suggest that it is vying for membership in the $1 trillion club. However, the accelerating demand for AI and the company's expertise in the field suggest the odds are likely in Palantir's favor.

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Source Fool.com