This 1 Thing Could be Palantir's Next Big Growth Driver
Palantir Technologies (NYSE: PLTR) has increased revenue through the years primarily thanks to its government contracts. The company specializes in helping clients aggregate their data -- and draw conclusions that could be crucial for future operations. This is a service that's appealed to governments around the world. For example, Palantir helped the U.K. quickly ensure equitable delivery of coronavirus vaccines throughout the country.
Revenue from government contracts continues to make up the lion's share of Palantir's total revenue, and that sector still offers the company significant opportunities. But another revenue source is nipping at its heels and could become Palantir's next big growth driver.
Palantir has been making progress in attracting commercial customers, and over the past year, that effort got a big boost thanks to the launch of its Artificial Intelligence Platform (AIP). This service harnesses the power of AI to help customers address their data-related needs. CEO Alex Karp even says AIP is "significantly contributing to new revenue and new customers."
Source Fool.com
