Is This the Best Artificial Intelligence (AI) Stock to Invest in Right Now?
Palantir (NYSE: PLTR) is usually listed among the top artificial intelligence (AI) stocks in the market. It's been doing AI for a long time. Palantir was founded in 2003 as an AI platform specifically catered for government use. However, Palantir has since expanded upon that initial goal to more commercial-focused products.
Because of Palantir's AI history, many assume it's one of the best AI investments to make right now due to a strong foothold in the industry. But is that really the case? Let's find out.
Although Palantir broadened its scope to include non-government products, it is still quite dependent on these contracts. In the second quarter, government revenue comprised 57% of the total and grew quicker than commercial revenue. It's not hard to understand why that's the case, as commercial companies are being more cautious with spending due to what many believe is an impending recession. The government doesn't need to focus on its profitability metrics, so it continues to spend like it always does.
Source Fool.com
