Palantir stock up 10% as company rides A.I. craze

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Palantir shares popped 10% Monday as the company continues to capitalize on investors' hopes for its artificial intelligence software.

In an interview with CNBC's "The Exchange" Friday, Dan Ives, managing director of equity research at Wedbush Securities, described Palantir as "the [Lionel] Messi of AI," referencing the pro soccer player. Ives said there is a "golden path" for the company to monetize, adding in a note that Palantir has built "an AI fortress that is unmatched."

"We believe PLTR will capitalize on the expansion of new use cases over the next 6-12 months given its large partner ecosystem and extensive product capabilities, by servicing the rapidly increasing demand for enterprise-scale generative artificial intelligence," Wedbush analysts wrote in the note. Tuesday. He called for increased collaboration between the government and the tech sector, and wrote that attention should be "urgently directed at building the technical architecture and regulatory framework that would construct moats and guardrails around A.I.", and he warned that if the U.S. does not invest in AI, other nations will.

 

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