Palantir Technologies (NYSE: PLTR) has been in the spotlight in recent years. The company formerly focused solely on providing data mining and artificial intelligence (AI) to the U.S. government and its allies, but has since pivoted to offer its services to enterprise-level businesses.

The advent of generative AI played right to the company's strengths, and Palantir quickly developed a solution that businesses could actually use. The ensuing excitement has pushed the stock price up 239% since early last year.

Investors might be surprised to learn, however, that Palantir stock actually hit its all-time high more than three years ago. Let's look at what drove Palantir to such rarified heights and how it could get there again.

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Source Fool.com