Palantir Passes Its Critical First Test

Palantir Technologies Inc. (NYSE: PLTR) is emerging as one of 2024’s biggest stock market successes. Since my initial recommendation in May 2021, the stock has risen 64.39%, with an impressive 88.27% gain year-to-date.

Company Overview

Founded by Peter Thiel and Alex Karp after 9/11, Palantir initially developed Artificial Intelligence (AI) software to help government agencies analyse data for national security.

Today, it works on 685 AI projects for the U.S. government and many private sector applications across various industries. Revenue grew from $2 million in 2008 to $2 billion in 2022.

Investment Potential

Palantir’s closed-source AI gives it a significant competitive edge, making it a unique investment in the AI space. Unlike the “Magnificent Seven” stocks, Palantir offers a more focused and direct way to invest in AI.

Recent Performance

In the last month Palantir is up 12.43% amid a market shift where overbought tech giants are losing ground. Microsoft’s expanded partnership with Palantir, especially within U.S. Defense, underscores the company’s strategic importance.

Palantir’s “remaining deal value” (RDV) hit $4.3 billion, up 26% year over year, signalling robust demand and future growth.

Conclusion

Palantir is exceeding expectations and is well-positioned for long-term success. Consider adding to your holdings, keeping in mind potential short-term volatility due to its size and market dynamics.

Best regards

Stuart Langan

SPI-Club Founder

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Disclaimer: SPI-Club provides information and guidance but does not offer investment advice. Please conduct your research and consult with financial professionals before making any investment decisions.