ARK Invest Bullish on Palantir's AI Growth Potential Despite Stock Slump
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Cathie Wood's ARK Invest funds have been buying more Palantir stock lately, purchasing 1.7 million shares across 3 ETFs from Dec 6-15.
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Palantir released a new AI product called Palantir Artificial Intelligence Platform (AIP) to help solve complex business problems.
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Demand for Palantir's AI offerings is surging - the company hosted bootcamps for 200 organizations to showcase AIP, far exceeding last year.
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Palantir is already profitable on a GAAP basis, making it eligible for the S&P 500, a huge milestone.
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With the stock down 50% from highs, now could be an opportunity to start a long-term position in this AI disruptor.