Seeking AI Exposure? Use This Zacks Tool

Zacks Thematic Screens lets you dive into 30 dynamic investment themes shaping the future. Whether you're interested in cutting-edge technology, renewable energy, or healthcare innovations, our themes help you invest in ideas that matter to you.

Let’s take a closer look at the Artificial Intelligence theme and analyze a hot stock that the screen returned, namely Palantir PLTR.

Artificial Intelligence

Artificial Intelligence (AI) refers to the technology that enables computers and machines to simulate human intelligence and problem-solving capabilities to perform the cognitive functions usually associated with human minds.

In general, AI systems work by ingesting large amounts of data with fast, iterative processing and intelligent algorithms. It then analyzes the data using neural networks for correlations and patterns and allows the software to learn automatically from these patterns to make predictions.

This screen features diverse companies involved in AI, ranging from creators of software and hardware that power AI to those applying and utilizing this technology through automation, diagnostics, cognitive tasks, and more.

PLTR Growth Remains Stellar

Regarding the top line, quarterly sales of $1.2 billion set another record, up a sizable 63% from the year-ago period. Growth was broad-based, with US commercial revenue surging 121% YoY and US government revenue shooting 52% higher.

PLTR inked many lucrative deals throughout the period, closing more than 200 deals worth at least $1 million, 91 worth at least $5 million, and 53 deals worth at least $10 million. It closed a record-setting $2.8 billion of Total Contract Value (TCV) overall, up a staggering 340% from the same period last year.

And for the cherry on top, Customer count grew by a massive 45% YoY. It goes without saying that the company has continued to witness extremely hot momentum, underpinned by a rapidly growing customer base.

Below is a chart illustrating Palantir’s sales on a quarterly basis.

Image Source: Zacks Investment Research

To top off the robust results, Palantir provided its highest sequential quarterly revenue growth guide in its history for its Q4 (61% growth expected), while also increasing its current year sales, adjusted operating income, and adjusted free cash flow guidance.

Bottom Line

Zacks Thematic Screens lets you dive into 30 dynamic investment themes shaping the future. Whether you're interested in cutting-edge technology, renewable energy, or healthcare innovations, our themes help you invest in ideas that matter to you.

Upon running the Zacks Artificial Intelligence Thematic screen, Palantir PLTR was returned.

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This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Source Zacks-com