The S&P 500 is an index comprised of the 500 biggest companies in the U.S. It is generally considered to be a reference point for the overall health of the market, and provides a detailed view of how the world's largest businesses are performing.

Getting inducted into the S&P 500 is a big milestone and represents major validation for businesses. However, the eligibility requirements for inclusion into the index are no small feat.

Artificial intelligence (AI) specialist Palantir Technologies (NYSE: PLTR) has been eligible for S&P 500 inclusion for quite some time -- but for now, the company remains outside the index.

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Source Fool.com