Monday, April 01, 2024 10:12:28 AM
Adam Spatacco, The Motley Fool
Sun, Mar 31, 2024, 3:45 AM EDT
Earlier this month, Ark Investment Management CEO Cathie Wood sat down for a podcast conversation hosted by former NBA stars Andre Iguodala and Evan Turner. While Iguodala may be best known for his NBA accolades, the athlete has a prolific career off the court as a start-up investor.
During the podcast, Wood spoke at length about major themes fueling the artificial intelligence (AI) narrative. One of the emerging players in AI is big data analytics company Palantir Technologies (NYSE: PLTR).
Wood has a large position in Palantir through her exchange-traded funds (ETFs). During her conversation, she put forth the idea that Palantir could end up being one of the largest AI companies in the world and even pose a threat to Microsoft (NASDAQ: MSFT).
Here's why I agree with Wood, and how Palantir could become one of the most lucrative investment opportunities in the AI realm.
Palantir's creativity is paying off
Big tech took the spotlight in 2023. Microsoft kicked off the AI revolution with a multibillion-dollar investment in ChatGPT developer OpenAI. Alphabet and Amazon both swiftly followed, with each investing in a competing platform called Anthropic. Moreover, chipmaker Nvidia invested in the world's most valuable privately held software start-up, Databricks.
With so much money flowing into high-profile AI businesses, it was easy for investors to overlook Palantir's moves. Last April, the company launched its fourth software application: the Palantir Artificial Intelligence Platform (AIP).
In an effort to commercialize the product in a low-cost, efficient way, Palantir began hosting immersive seminars called bootcamps. During these events, prospective customers have an opportunity to demo Palantir's various products and identify a use case centered around AI.
I find this lead generation strategy to be quite creative and effective. By showing customer leads exactly how Palantir can help bolster their AI ambitions, the company has experienced an acceleration in client growth.
In 2023, Palantir grew its overall customer base by 35% annually. But more importantly, the company increased its commercial customer count by 44%. This is important as skeptics have expressed doubt that Palantir will ever truly grow beyond its legacy government business and could fail to penetrate commercial enterprises.
https://finance.yahoo.com/news/cathie-wood-thinks-palantir-could-074500631.html
Recent PLTR News
- Form 8-K - Current report • Edgar (US Regulatory) • 05/06/2024 08:06:05 PM
- Palantir Reports Revenue Growth of 21% Year-Over-Year and Sixth Consecutive Quarter of GAAP Profitability; GAAP EPS of $0.04 in Q1 2024 • Business Wire • 05/06/2024 08:05:00 PM
- Index Futures Point to Strong Monday Opening, Building on Last Week’s Gains; Oil Prices Rise • IH Market News • 05/06/2024 12:09:15 PM
- Perficient Stock Soars 52.9% Post-Acquisition; Luminar Declines 10% Amid Workforce Cutbacks, and Other News • IH Market News • 05/06/2024 12:09:00 PM
- Coca-Cola and Microsoft Sign Billion-Dollar Agreement, Apple Event Set for May 7, and More News • IH Market News • 04/24/2024 11:28:02 AM
- Palantir Designated “Awardable” Vendor for Department of Defense Chief Digital and Artificial Intelligence Office’s Tradewinds Solutions Marketplace • Business Wire • 04/17/2024 10:59:00 AM
- Palantir Announces Date of First Quarter 2024 Earnings Release and Webcast • Business Wire • 04/15/2024 08:05:00 PM
- Palantir and Colorado-Wyoming Regional Innovation Engine (CO-WY Engine) Awarded Inaugural US National Science Foundation Regional Innovation Engines Grant to Support Climate Resiliency • Business Wire • 04/15/2024 10:59:00 AM
- Palantir to Deliver Electromagnetic Battle Management - Joint Decision Support (EMBM-J DS) Prototype to the Defense Information Systems Agency (DISA) • Business Wire • 03/29/2024 10:59:00 AM
- Il Ministero ucraino dell'istruzione e della scienza e Palantir collaborano alla creazione di condizioni sicure per l'attività didattica in presenza nelle scuole • Business Wire • 03/28/2024 07:25:00 PM
- Le ministère de l'Éducation et des Sciences de l'Ukraine et Palantir s'associent pour créer des conditions sûres pour l'enseignement en personne dans les écoles • Business Wire • 03/28/2024 07:07:00 PM
- Ministerium für Bildung und Wissenschaft der Ukraine und Palantir arbeiten zusammen, um sichere Bedingungen für den Präsenzunterricht in Schulen zu schaffen • Business Wire • 03/28/2024 06:30:00 PM
- Ministry of Education and Science of Ukraine and Palantir Partner to Create Safe Conditions for In-Person Education in Schools • Business Wire • 03/28/2024 09:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/09/2024 12:59:38 AM
- Palantir to Unveil New Customers at Oversubscribed AIPCon • Business Wire • 03/06/2024 11:59:00 AM
- Army Selects Palantir to Deliver TITAN Next Generation Deep-Sensing Capability in Prototype Maturation Phase • Business Wire • 03/06/2024 11:59:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 01:34:15 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 01:32:23 AM
- RED 6 PARTNERS WITH PALANTIR TO INTEGRATE ONTOLOGY SOFTWARE DEVELOPMENT KIT (OSKD) • PR Newswire (US) • 03/05/2024 11:59:00 AM
- Palantir and Ministry of Economy of Ukraine Sign Demining Partnership • Business Wire • 03/04/2024 11:59:00 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/01/2024 11:58:26 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/01/2024 09:39:41 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/26/2024 09:34:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 01:09:47 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 01:08:40 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM