AI Boom Drives Microsoft and Palantir Growth, Analyst Sees $1 Trillion Industry Spending
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AI technology is transforming the tech sector, comparable to the dot-com boom of the 1990s. It will drive $1 trillion in spending over the next decade.
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Palantir uses AI to augment human intelligence through natural language interactions. Revenue grew 20% year-over-year in Q4 2022.
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Microsoft is investing heavily in AI integration across its products like Azure and Copilot. Azure cloud revenue grew 30% year-over-year.
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Analyst Daniel Ives sees Palantir and Microsoft as top AI investment opportunities. He gives both a Buy rating.
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Microsoft delivered strong Q2 2024 results, beating estimates. Ives sees its AI focus accelerating growth over a multi-year period.