Palantir Technologies Inc (NYSE:PLTR) shares rose 5.4% on Monday following NATO's acquisition of its Maven Smart System. The AI-driven system, which leverages Palantir's expertise in generative AI, machine learning, and large language models, will be operational within the next 30 days.
Though the upside was swiftly tempered, Palantir (NASDAQ: PLTR) stock enjoyed a remarkable market open on Monday, April 14, as it stood nearly 10% in the green in the daily chart and above $96.
Palantir's stock has dropped over 40%, and I don't understand why. The world is shifting from a US-centric global economy to a more individualistic order. This provides a huge tailwind for Palantir, as it will become the engine of the US military and re-industrialization effort.
Palantir (PLTR -0.22%) has managed to be relatively resilient amid the recent turmoil in the stock market. As of this writing, the stock is up 17% year to date despite pulling back 27% from the all-time high it reached in February.
Palantir Technologies (PLTR -0.22%) went public in September 2020, and shares of the software platforms and data analytics provider have jumped an impressive 714% since then as of this writing, though it is worth noting that almost all of the stock's gains have arrived in the past couple of years following the launch of its artificial intelligence (AI) software platform in April 2023.
I've consistently highlighted Palantir's extreme valuation risks, but the recent market selloff has brought the stock back to a relatively more reasonable level. The company has met an explosion in demand with an innovative go-to-market strategy, which has caused an inflection in profitability and relevance. Despite previous bearish views, recent market dynamics call for a fresh look at Palantir's investment case.
Palantir Technologies (PLTR -0.22%) has not been spared from the recent stock market crash, with the stock trading down roughly 29% from its highs as of this writing. As an investment, the stock remains a bit controversial given its high valuation, but it also has one of the best potential long-term opportunities of any stock in the market.
Palantir Technologies (PLTR -0.22%) has been one of the hottest artificial intelligence (AI) stocks on the market in the past couple of years, registering stunning gains of more than 820%, as of this writing, on the back of the company's rapidly improving credentials in the lucrative market for AI chips.
Palantir Technologies (PLTR -0.22%) stock has returned 910% since the inception of the artificial intelligence boom in late 2022, and the company is currently worth $200 billion. But some Wall Street analysts expect Advanced Micro Devices (AMD 5.07%) and Uber Technologies (UBER 1.85%) to top that figure in the next 12 months.
The United States House of Representatives passed the SAVE Act (Safeguard American Voter Eligibility) by a 220 to 208 vote — and Palantir stock (NASDAQ: PLTR) could be set to benefit from the bill.
Both NVIDIA and Palantir are strong players in AI. Which stock has more growth potential and is the better investment?
Following huge gains in yesterday's trading, Palantir Technologies (PLTR -4.55%) stock is losing ground Thursday. The company's share price was down 3.9% as of 10:15 a.m.