Why Palantir Stock Jumped 13% in May
Palantir Technologies (NASDAQ: PLTR) stock rose 13% in May, according to data provided by S&P Global Market Intelligence. Market sentiment turned positive for the artificial intelligence (AI) stock after a report that the U.S. government is going to invest in drone companies.
Palantir isn't a drone company, but its products are heavily used by the defense industry and the U.S. government. It has specialized drone technology that's integrated into its platform, which is one element of its connected network of data sets, and its Defense Solutions are used by the U.S. Army, the U.S. Air Force, and the U.S. Navy. The company's Gotham platform creates a custom ontology, or map of different data sets, to unify them and help management make critical decisions, and it's used by defense agencies as well as intelligence and law enforcement.
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Source Fool.com
