Will Palantir Stock Join the S&P 500 in 2024?
Artificial intelligence (AI) stocks have captivated investor attention this year like nothing else. The launch of ChatGPT a year ago opened the market's eyes to the potential of new generative AI technologies, and investors have raced to find potential winners.
Palantir Technologies (NYSE: PLTR) has been one of the top AI stock picks, due to its prowess in artificial intelligence-driven data analytics. The stock has more than doubled this year. Palantir was founded in 2003, developing software for counterterrorism investigations for the intelligence community. It was able to connect the dots from massive, disparate datasets to deliver insights and disrupt terrorist plots.
In the age of generative AI, Palantir's technology is in demand by governments as well as big business. The company only has a few hundred customers but deals with complex projects and large contracts, averaging in the several-million-dollar range annually.
Source Fool.com
