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Home News

Palantir Technologies: A Force to be Reckoned With in the AI Revolution

by Myfxtools
July 30, 2023
in News
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Palantir Technologies, the AI software company, received a significant boost on Friday as Wedbush technology analyst Dan Ives initiated coverage with an Outperform rating. With a target price set at $25, Ives believes that Palantir is well-positioned to capture market share in both the commercial and government analytics software sectors.

Impressive Growth Potential

Trading under the ticker PLTR, Palantir’s stock experienced a 5% surge, reaching $16.94. Ives expressed his confidence in the company’s future, stating, “Palantir has built an unmatched AI fortress and is poised to become a major player in the AI Revolution over the next decade.” In his note titled ‘The Messi of AI,’ Ives outlined his optimistic projections.

Based on his bull case 2027 revenue estimate of $5 billion, Ives established a target price of $25. He elaborated, “We believe Palantir has an extraordinary opportunity to secure a significant share in what will be an $800 billion TAM (total addressable market), as AI applications continue to redefine various business processes across industries.” Palantir has taken bold steps to strengthen its software offerings by introducing a new AI layer called AIP (Artificial Intelligence Platform).

Leveraging Expertise to Drive Innovation

Ives emphasized the value of Palantir’s extensive experience in handling customer data, suggesting that their transition to a pure-play AI company will enable them to leverage their existing expertise to achieve even greater advancements. He highlighted the importance of high-quality data in delivering AI solutions and using emerging LLMs (Language Models) to enhance platform capabilities.

Palantir Technologies is undeniably at the forefront of the AI Revolution. With its strong foundation and commitment to innovation, there is no doubt that the company will continue to make significant strides in the years to come.

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Tags: AI RevolutionAI softwareData analyticsMarket sharePalantir Technologies
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