Posted 12/25/2023, 1:00:00 PM
Palantir Reduces Reliance on Government, Focuses on AI to Fuel Growth
- Palantir gets 23% of revenue from government contracts, up from 25% two years ago, so some decrease in dependence on government
- Commercial revenue grew 8%+ last two quarters as AI hype took off, suggesting less government dependence going forward
- Palantir launching AI bootcamps to help businesses adopt its software, further reducing government dependence
- Stock up 175% this year but trading at high premiums based on valuation metrics
- Can be a good long-term investment if willing to hold through ups and downs for multiple years