Palantir (NYSE: PLTR ) just won a $480 million contract to work on an artificial intelligence (AI) called the “Maven Smart System” for the U.S. Army. The contract is for five years.
Palantir became eligible for S&P 500 inclusion following its third-quarter 2023 earnings report. The company has yet to be chosen for the index, but this upcoming cycle could be its time.
Palantir provides AI tools to government and commercial clients. The stock is very expensive for its growth rate.
Palantir has been growing its U.S. commercial business, but its government business has slowing growth. The company would likely need 25% annual revenue growth to reach a trillion-dollar valuation by 2040.
Palantir and Nvidia are capitalizing on the rising effectiveness of artificial intelligence.
Deemed as one of the revolutionary companies that combine AI and military technology, experts see Palantir's (NYSE: PLTR) stock as a ‘diamond in the rough' yet to showcase its full potential.
Palantir has won a $480 million contract from the U.S. Army for a prototype known as the Maven Smart System, the Defense Department said on Wednesday.
Palantir stock soared over 160% last year, and much of this momentum carried over into 2024. Prior to Palantir's first-quarter earnings in early May, the stock had outperformed the tech-heavy Nasdaq Composite.
Palantir Technologies (NYSE: PLTR ) stock is in the news Wednesday after the big data company announced a new deal with intelligent power management company Eaton (NYSE: ETN ). Palantir is expanding its partnership with Eaton that will bring its Artificial Intelligence Platform ( AIP ) to the latter's operations.
One of the prominent players that has arisen in the AI-themed bull market, delivering excellent returns to investors since the rally began in early 2023, is Palantir (NYSE: PLTR). However, PLTR stock has recently declined following the company's Q1 earnings report in early May.
Artificial intelligence (AI) is still the prominent buzzword in the news today. While many investors have been raking in profits from AI stocks, others are on the hunt for the next company to soar.
Palantir Technologies and Norwegian Cruise Line have retreated recently after big runs last year. Palantir has shed nearly a quarter of its value since peaking in March, but the data analytics specialist's business is accelerating.