Posted 4/12/2024, 8:08:00 AM
Palantir and Oracle Team Up to Accelerate AI Growth
- Palantir's partnership with Oracle could accelerate adoption of Palantir's AI software platforms Foundry, Gotham, and AIP by leveraging Oracle's extensive cloud infrastructure
- Demand for Oracle's AI-focused cloud offerings is growing rapidly, with over $80B in remaining performance obligations
- Oracle's cloud business is growing faster than AWS and Google Cloud, giving Palantir expanded reach
- The global cloud AI market is predicted to grow at 36% annually through 2032, signaling strong tailwinds
- With wider availability of its AI solutions, Palantir could exceed revenue growth expectations of 22% in 2023, driving further stock upside