Posted 1/24/2024, 10:20:00 AM
Palantir Poised for Growth as AI Software Firm Pivots to Private Sector
- Palantir is an emerging AI software company that Cathie Wood and Ark Invest are bullish on, seeing significant growth potential
- Palantir pivoted from relying heavily on government contracts to acquiring private sector customers, with over 100 added in the past year
- Palantir posted 4 consecutive profitable quarters in 2022 and is on track to qualify for the S&P 500
- While growth prospects are strong, $1 trillion market cap by 2030 seems overly optimistic. A reasonable estimate is $175B market cap and $9.4B revenue by 2030
- As a leader in generative AI, Palantir could reasonably grow revenue over 20% annually. Though $1 trillion is a stretch, it has potential as a multibagger investment