One of many breakout stars of the unreal intelligence (AI) revolution is information analytics software program firm Palantir Applied sciences (NYSE: PLTR). Since its preliminary public providing in late 2020, Palantir shares have generated a 488% return as of market shut on Nov. 7.
However to be sincere, Palantir’s journey hasn’t been with out some challenges and drama alongside the best way. Regardless of a profitable public debut just a few years in the past, shares of Palantir cratered all through a lot of 2022 on the backdrop of a tricky macroeconomy. With shares buying and selling for simply $6 initially of 2023, Palantir’s outlook did not look brilliant. The corporate had nearly no presence within the non-public sector, and progress from its authorities contracting enterprise was decelerating.
Nevertheless, the launch of the Palantir Artificial Intelligence Platform (AIP) in April 2023 sparked a comeback that even Rocky would recognize.
Supply (*2*)