AI Stocks Heat Up: Palantir Gains Investor Attention
The AI explosion is not slowing down, as demonstrated by Oracle’s most recent earnings. The business revealed a huge backlog of orders for cloud and AI servers totaling $455 billion. A significant chunk of the artificial intelligence industry as well as the company’s shares increased as a result of this revelation. However, while Oracle’s contracts are the most notable topic, Palantir could be a rising star that attracts less attention.
Palantir Strengthens Ties with Oracle
While expanding its own platform to additional government and commercial clients, the data and AI software startup has been forming alliances with Oracle. Because of these factors, Palantir stock may benefit more from Oracle’s breakout than most investors anticipate. Palantir and Oracle have been strengthening their relationship over time. Palantir reached an agreement last year to distribute its Artificial Intelligence Platform to a larger group of business clients via Oracle’s cloud platform. Palantir is now one of the few software companies that will directly profit from Oracle’s expansion of its AI server business due to this move.
Palantir Gains Momentum Amid Oracle’s AI Market Surge
This year, Palantir’s stock has fluctuated, rising in the beginning and then falling in August. Now that Oracle’s earnings helped boost the overall AI trade, the stock is rebounding, up over 3% on Wednesday. The Oracle announcement serves as a reminder to long-term investors that Palantir’s expansion is linked to the growth engines of much larger companies that are investing billions to expand the ecosystem as a whole.
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