Palantir (PLTR), the stock that keeps rallying, hits yet another new all-time high after announcing its partnership with Booz Allen Hamilton (BAH). Both companies aim to support U.S. defense missions by enhancing data-driven systems.
Palantir Technologies (PLTR 2.89%) has been one of the hottest stocks on the market this year. However, Arista Networks (ANET 1.33%), a company that conducted a 4-for-1 stock split on Dec. 4, has been the better performer over the last four years.
Since the advent of artificial intelligence (AI) early last year, the number of use cases has continued to soar. The ability of these advanced algorithms to streamline processes and increase productivity has companies of all stripes looking for ways to adopt generative AI, integrate it into their businesses, and reap their part of the expected financial windfall.
Shares of Palantir Technologies (PLTR -1.56%) more than tripled over the last 12 months, with most of that gain coming in just the last three months. Since the beginning of September, the stock has rocketed 134% at the time of this writing and commands a rich valuation of 64 times trailing-12-month revenue and 187 times this year's consensus earnings estimate.
Nvidia (NVDA 3.48%) is about to do it again. The chipmaker is only a few weeks away from delivering its fourth gain of over 100% in the last five years.
Last month, investors were overwhelmed with data releases. Between Election Day, earnings season, and monthly economic reports, it would have been easy for something important to fly under the radar.
To gain an edge, this is what you need to know today.
James Demmert credits Palantir's (PLTR) management for executing A.I. tactics early.
At the moment, one of the stocks with the strongest momentum in the market belongs to Palantir (NASDAQ: PLTR), the Alex Karp-led data analytics and AI infrastructure business.
Following Palantir's (NASDAQ: PLTR) breakthrough as a key player in artificial intelligence (AI) software, Wedbush Securities analyst Dan Ives has identified the next stock to follow suit.
Less than three weeks ago, investors received what can arguably be described as the most-important data dump of the third quarter. Amid countless earnings reports and economic data releases, Nov. 14 marked the deadline for institutional investors to file Form 13F with the Securities and Exchange Commission.
Palantir (PLTR) shares are likely to remain in focus after jumping Tuesday following news that the analytics software provider's entire product suite has received approval for use in processing sensitive federal workloads, positioning the firm to provide an array of services to government entities.