Palantir's AI Growth Spurs Cathie Wood's Continued Investments, But $1 Trillion Valuation by 2030 Looks Overly Ambitious
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Palantir Technologies provides artificial intelligence (AI) software and has seen rapid growth recently, leading to Cathie Wood/Ark Invest buying its stock again.
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Palantir's new product Artificial Intelligence Platform (AIP) and "boot camps" have driven 100+ new private sector customers in the past year.
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In 2023, Palantir achieved 4th straight profitable quarter by GAAP standards and is on track for S&P 500 eligibility.
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Though seeing impressive growth, Palantir would need to increase 29x in value in 6 years to reach a $1 trillion market cap by 2030, which is very unlikely.
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While $1 trillion by 2030 is too optimistic, Palantir should grow over 20% annually, making it a potential multibagger investment given current valuations.