Palantir Technologies Stock Surged Again Today. Is It Too Late to Buy the Red-Hot Artificial Intelligence (AI) Growth Stock?
Palantir Technologies (NYSE: PLTR) jumped again on Wednesday, adding to its growing win streak. The stock was up as much as 12.3% in early trading and as of 1:50 p.m. ET was still up 11%.
While the upward trajectory of the broader market no doubt helped fuel the gains, the clear catalyst that sent the data mining and artificial intelligence (AI) specialist higher was news the company beat out the competition for a major Army contract.
Palantir was awarded a contract worth $178.4 million to deliver 10 Tactical Intelligence Targeting Access Node, or TITAN systems, which use sensor data to locate targets. However, the contract could be much more lucrative. As my colleague Lou Whiteman pointed out, the initial 10 systems could lead to 100 to 150 more.
Source Fool.com
