As Palantir (NYSE:PLTR) basks in the glow of a five-quarter profit streak, the clamor for the next big winner in artificial intelligence (AI) stocks grows louder. In a field rife with empty promises and dashed hopes, investors are on the prowl for the next big thing – companies that parallel Palantir by delivering unmatched value to customers and expanding their reach.
Chegg (CHGG)
Step up, Chegg (NYSE:CHGG) – the sleeper pick in the world of AI stocks. Aligning with the Palantir narrative, Chegg has widened its focus from textbook rentals to a robust edtech platform powered by AI. Despite a lackluster performance in 2023, marked by a 7% YOY revenue dip, all eyes remain on Chegg’s 68% gross margin, projected to soar further as the company reorients its operations. A $200 million share buyback program also spotlights Chegg’s commitment to both AI-driven growth and financial stability. This next-gen stock is on the cusp of defining the edtech landscape with its AI-centric innovations.
UiPath (PATH)
Next in line is UiPath (NYSE:PATH) – the undiscovered gem in the world of office administration. Drawing parallels with Palantir, UiPath has caught the eye of renowned investor Cathie Wood, who lauds the company’s prowess in leveraging proprietary data to automate mundane processes and unlock untapped potential. UiPath’s integration of Generative AI into its automation platform has further fueled enterprise adoption. This echoes Palantir’s shift towards diversifying its clientele beyond government contracts, making UiPath an undeniably potent force in the AI stock arena.
SoundHound AI (SOUN)
Completing the trifecta, we have SoundHound AI (NASDAQ:SOUN) – a small-cap powerhouse poised to revolutionize voice recognition technology with AI. Backed by the heavyweight endorsement of Nvidia (NASDAQ:NVDA), SoundHound has seen an upsurge in market confidence and investment. Nvidia’s strategic stake in SoundHound heralds a bright future for this AI stock, echoing the meteoric rise of Palantir in the AI domain. As SoundHound fine-tunes its AI voice assistance for restaurant operations, the company’s potential to emerge as the next Palantir in voice recognition software is on the horizon.
On the date of publication, Jeremy Flint did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
