Cathie Wood Doubles Down on Palantir as AI Growth Stock
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Cathie Wood has doubled ARK Invest's stake in Palantir Technologies (PLTR), a company expected to benefit from AI adoption.
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Palantir's commercial business is growing rapidly, aided by demand for its new Palantir Artificial Intelligence Platform (AIP).
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AIP adoption is accelerating through Palantir's customer "boot camps", which could improve unit economics.
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Palantir stock price could potentially increase 8x to $146 in 5 years if projected 85% annual earnings growth is achieved.
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The recent pullback in Palantir shares presents an opportunity for investors like Cathie Wood to buy the stock at a reasonable valuation.