Palantir Technologies, which went public on September 30, 2020, has emerged as a leader in AI following the industry’s resurgence in late 2022. The company is recognized for its Artificial Intelligence Platform (AIP), launched in early 2023, which has bolstered its government contracts and allowed it to penetrate the private sector.
Palantir was added to the S&P 500 in 2023 and is currently the best-performing stock in the index for 2024. The company has also forged partnerships with technology giants like Microsoft, Oracle, Amazon, and Meta Platforms to integrate their cloud platforms with AIP, enhancing its market position.
Despite its growing valuation, with a price-to-sales ratio of 66, and some hedge funds beginning to take profits, Palantir is viewed as a promising long-term investment with substantial growth potential driven by its evolving AI solutions.
