Palantir Is Up 1,700% 5 Years After Its IPO. What Will the Next 5 Years Hold?

Palantir Technologies (NASDAQ: PLTR) recently celebrated its fifth anniversary as a public company. When it had its initial public offering in 2020, it was mostly known as a secretive government contractor that built powerful data analytics tools to help fight terrorism.Palantir was founded after 9/11 with the idea that the same fraud detection technology PayPal used to stop cybercrime could be applied to track terrorist financing and uncover hidden threats to national security. Its first product, Gotham, became a critical tool for U.S. intelligence agencies, as it could pull together massive amounts of scattered data and find the hidden connections. Five years later, Palantir's business looks very different. The company is still deeply tied to the U.S. government and to agencies like the Department of Defense, but the real driver of the stock's 1,700% climb since its IPO has been its reinvention as an artificial intelligence (AI) company.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool