Could This Key Development Drive Palantir Stock to New Heights?

Artificial intelligence (AI) has been around in some form or fashion for over 50 years, but recent developments in the field of generative AI have attracted the attention of Wall Street and Main Street alike. These new AI systems have the ability to refine and distill massive amounts of data, create original content, and streamline processes -- thereby increasing productivity. Potential applications abound, and individuals, businesses, and governments are all looking for ways to cash in on AI.One of the undeniable beneficiaries of this trend is Palantir Technologies (NASDAQ: PLTR). The company has risen from near obscurity to be one of Wall Street's hottest properties. The stock is up 85% so far this year and boasts gains of 1,760% since the dawn of generative AI in late 2022.While some investors fear Palantir's growth will eventually fade, recent developments help illustrate the long runway ahead and why the stock might still be a buy, despite its astronomical valuation.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool