Posted 4/14/2024, 6:05:00 PM
Palantir's AI Platform Fuels 35% Revenue Growth and Stock Upside in 2023
- Palantir launched its AI platform (AIP) in 2023, which helped accelerate its revenue growth to 35% year-over-year
- AIP's success comes from Palantir's "boot camps" where customers can demo the software and develop use cases
- With over 850 boot camps hosted already, AIP is gaining traction especially with US commercial customers
- Palantir is very profitable unlike competitors, with operating margins up 6% and free cash flow up over 3x in 2023
- Despite the high valuation, analyst Dan Ives sees 55% upside for Palantir's stock price due to AIP's long-term potential