We recently compiled a list of 10 AI News and Ratings Investors Should Not Miss. In this article, we’ll take a look at where Palantir Technologies Inc. (NYSE: PLTR) stands in relation to other AI stocks in the news.
As the demand for AI-based applications increases, large technology companies are investing in alternative energy solutions to meet data center requirements. Amazon, for example, has engaged in nuclear power projects with X-energy and Dominion Energy, focusing on building small modular reactors (SMRs) to meet the intensive energy needs of its data centers while striving to achieve carbon neutrality. This shift to nuclear power is expected to help parent company AWS achieve its net-zero emissions goals by 2040, while managing growing energy demand driven by AI and cloud services.
Learn more about these developments by accessing 10 Best AI Data Center Stocks And 10 Hot AI Stocks According to Goldman Sachs.
Meanwhile, Apple previewed several AI improvements, including integration with ChatGPT for more advanced on-device tasks such as text generation and question answering in iOS 18.1. This addition aligns with its approach to cautiously integrating AI, with a focus on improving user experience while enhancing privacy through device-based processing. The company’s developments aim to increase the appeal of the iPhone and could impact the smartphone market by encouraging upgrades for new AI capabilities.
Learn more about these developments by accessing 30 The Most Important AI Stocks According to BlackRock And Beyond Tech Giants: 35 Non-Tech AI Opportunities.
For this article, we selected AI stocks by combing through news articles, stock analyzes and press releases. These stocks are also popular among hedge funds.
Why are we interested in stocks that hedge funds are piling into? The reason is simple: our research has shown that we can outperform the market by imitating the stocks selected by the best hedge funds. Our quarterly newsletter strategy selects 14 small- and large-cap stocks each quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A software engineer manipulating a vast network of code on virtual monitors.
Number of hedge fund holders: 44
Palantir Technologies Inc. (NYSE: PLTR) is an American company specializing in software platforms for big data analysis. On November 6, Goldman Sachs analyst Gabriela Borges raised Palantir’s price target from $16 to $41, but maintained a neutral rating on the shares. The advisory underestimated the significant momentum Palantir would see in 2024 in applying its core technology competencies — data assembly, ontology creation — to solve custom AI software challenges at enterprise customers, said Goldman analysts to investors in a research note. The note adds, however, that the neutral stance reflects the stock already pricing in significant success with AIP as it looks to continue its work to better understand the sustainability of Palantir’s competitive advantage.
