Palantir Technologies shifted from providing software and analytics to intelligence agencies toward selling AI software solutions to commercial customers, driving recent growth. The Artificial Intelligence Platform (AIP), launched in April 2023, enables government and commercial users to apply large language models and other AI tools to automate processes and build applications that improve efficiency and productivity. Major technology firms have benefited from AI adoption across cloud, social, advertising, and e-commerce verticals, and Palantir is experiencing accelerated demand from generative AI. The company appears positioned to become a major AI software name and capture a portion of a multibillion-dollar market.
"Big tech" refers to the largest and most influential companies in the world, many of which are now witnessing remarkable growth thanks to the proliferation of artificial intelligence (AI). Nvidia, Meta Platforms, Alphabet, and Amazon have been benefiting from AI adoption in multiple verticals such as cloud computing, social media, digital advertising, and e-commerce. And now, there's another company experiencing a strong acceleration in growth from the increasing demand for generative AI software.
Palantir Technologies (NASDAQ: PLTR) originally made its name by providing software and analytics solutions to intelligence agencies in the U.S. But for the past couple of years, its growth has improved by selling its AI software solutions to commercial customers as well. The company now seems to be on its way to becoming one of the most important names in AI software.
Let's look at the reasons Palantir could become the next addition to the roster of big tech names. Image source: Getty Images. Palantir is already one of the leaders in AI software Palantir's Artificial Intelligence Platform (AIP), which was introduced in April 2023, has become a huge hit among customers. The platform enables both government and commercial customers to use large language models (LLMs) and other AI tools to automate processes and build applications to improve efficiency and productivity.
Collection
[
|
...
]