Palantir's (NYSE: PLTR) big bets on artificial intelligence (AI) may be in the early stages of paying off. The data services company, which was co-founded by tech visionary Peter Thiel, CEO Alex Karp, and others, is rolling out a new, AI-focused service platform.

According to comments from management, the early demand outlook has been incredibly encouraging, and investors are clearly excited. Spurred by better-than-expected first-quarter results and excitement surrounding the company's opportunity in AI, Palantir stock is up roughly 24% following its Q1 release and conference call. Is this run just getting started?

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Source Fool.com