Where Will Palantir Stock Be in 5 Years?
Sparked by the release of OpenAI's ChatGPT in 2022, the generative artificial intelligence (AI) boom has given companies like Palantir (NYSE: PLTR) a new lease on life. But with its shares up 73% over the past 12 months, has all the growth already been priced in? Let's explore what the next five years could have in store for this software company.
Founded in 2003 and going public in 2020, Palantir Technologies can be considered an "early" AI company -- pioneering technologies like machine learning and big data analytics. The company operates a software-as-a-service business model in which clients pay a recurring fee for access to its two main platforms: Gotham (targeted at corporate clients) and Foundry (designed for government contracting, security, and defense).
Palantir's defense contracting is key to its economic moat. Unlike the typical software company, Palantir has a long track record of working on classified and sensitive missions, such as the Osama Bin Laden raid in 2011. More recently, the company has helped the Ukrainian armed forces with targeting in their war against Russia. And in January, Palantir inked a deal with Israel to provide services for war-related missions.
Source Fool.com
