Investors have been looking for potential winners in the high-growth area of artificial intelligence (AI), and Palantir Technologies (NYSE: PLTR) has caught their attention. But this software-as-a-service company isn't a new player. It's actually been around for more than 20 years, helping customers aggregate disparate data across their organizations and harness it to make key decisions.

Palantir often has been associated with government contracts, and these clients have driven revenue growth over the years. But times are changing. The commercial customer has emerged as a growing one, and Palantir's focus on AI is giving this trend a significant boost.

The stock's performance has reflected this potential, with Palantir shares soaring more than 200% over the past year. And the company, which has grown revenue over time, just recently reached profitability as AI clients supercharge earnings.

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Source Fool.com