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Palantir Technologies Inc. has seen a significant rise in its stock valuation, driven by increased interest from individual investors and the company's focus on artificial intelligence (AI). The stock has surged 83% this year and is currently trading at 22 times next year's expected revenue, making it one of the most expensive cloud software stocks. CEO Alex Karp has been credited with turning Palantir into a 'meme stock,' with its valuation described as exorbitant. The company's growth in both commercial and government markets is attributed to strong demand for its advanced AI systems. Palantir has also received praise on CNBC for its execution in software and AI.
$PLTR "Our growth across the commercial and government markets has been driven by an unrelenting wave of demand from customers for artificial intelligence systems that go beyond the merely performative and academic." - Palantir CEO Alex Karp https://t.co/pUHLeIpL6x
investors love palantir ceo alex karp, and the company is making big moves in data and AI. but does it deserve the highest valuation multiple in all of cloud software? i unpack that question in my latest 'true value' column @theinformation $PLTR https://t.co/L0Vyw6GJYv
"Karp has turned Palantir into a kind of meme stock with a valuation that can only be described as exorbitant" Having risen 83% so far this year, Palantir’s stock is trading at 22x next year’s expected revenue, making it one of the priciest cloud software stocks…
