Excitement surrounding artificial intelligence (AI) has captivated the investment community with both the S 500 and Nasdaq Composite trading near record levels. These gains are largely attributable to a small basket of megacap companies collectively referred to as the "Magnificent Seven" -- which includes Microsoft, Apple, , Nvidia, Amazon, Meta Platforms, and Tesla.

While the Magnificent Seven have been pivotal to the widespread adoption of AI, there is a plethora of emerging opportunities in the AI realm outside of this cohort. One company that has also shared the spotlight is Palantir Technologies (NYSE: PLTR).

Palantir's business has been sizzling over the last year, and AI-driven momentum appears to be on the company's side. Investors have taken note with shares of Palantir nearly tripling over the last year.

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Source Fool.com