Is Palantir Stock a Buy?
Artificial intelligence (AI) stocks have propelled the stock market to a surprisingly strong year in 2023. Even as fears of a recession and the highest interest rates in nearly a generation have dogged investors, the S 500 and Nasdaq Composite have soared this year in large part due to the emergence of generative artificial intelligence.
Among the winners from the AI boom is Palantir Technologies (NYSE: PLTR), which is up 169% year to date. Palantir is a software company that specializes in data fusion, or data analysis. These technologies help organizations like governments and businesses parse large amounts of data to make connections they wouldn't otherwise be able to make. Palantir got its start in counterterrorism and has expanded throughout the government and into the private sector from there. Though its government segment still makes up the majority of its revenue, the commercial business is growing faster, showing that diversifying efforts are paying off.
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Source Fool.com
