Near a 2-Year High, Is Palantir Technologies Stock Still a Buy?
Artificial intelligence (AI) technology has existed for decades, but recent advancements have taken these sophisticated algorithms to the next level. Businesses of all sizes have been captivated by the potential for increased productivity, sparking something of an AI gold rush. Investors recognized the opportunity to cash in on this secular tailwind, buying up shares of companies positioned to profit from the trend.
Palantir Technologies (NYSE: PLTR) is one such company. The company first made a name for itself among government agencies for its ability to ferret out terrorist plots before they could succeed. The company has expanded beyond government contracts to provide data mining and business analytics services for commercial enterprises.
Thanks to its decades of AI experience in the field, Palantir pivoted quickly when generative AI burst onto the scene. The company has developed an intriguing approach to help its customers get the most out of AI, and this strategy is paying off in a big way.
Source Fool.com
