Is Palantir a Good Artificial Intelligence (AI) Stock to Buy Now?
After rising by more than 100% in 2024, Palantir Technologies (NYSE: PLTR) is finally getting Wall Street's attention. The data analytics company has benefited from a surge in excitement around its new generative artificial intelligence (AI) tools. And it will join the benchmark S&P 500 index this month, demonstrating its growing relevance in the market.
Let's dig deeper to see if it's a good idea for new investors to bet on this booming stock right now.
Since the launch of OpenAI's ChatGPT in late 2022, generative AI-related stocks have generated billions, if not trillions, in shareholder value. However, so far, most of the operational momentum has been limited to hardware giants like Nvidia, which saw its second-quarter revenue more than double by selling the graphics processing units (GPUs) needed to run and train these advanced algorithms.
Source Fool.com
