Missed Out On Palantir Technologies? Buy This Artificial Intelligence (AI) Stock Before It Starts Soaring Once Again
Shares of Palantir Technologies (NYSE: PLTR) jumped an impressive 30% on Feb. 6 after the company released solid results for the fourth quarter of 2023 on the previous day, driven by the growing demand for its artificial intelligence (AI) software solutions.
However, Palantir was not the only company that saw its shares rise following the quarterly report. Its strong results rubbed off positively on pure-play enterprise AI software provider C3.ai (NYSE: AI), with the latter's shares gaining almost 8% on the same day. C3.ai's stock may have jumped following Palantir's results because of the robust demand for AI software.
Palantir struck an impressive 103 deals last quarter that were each worth more than $1 million -- a twofold jump over the year-ago period -- pointing out that adoption of its Artificial Intelligence Platform (AIP) "is driving both new customer conversions and existing customer expansions."
Source Fool.com
