dpArtificial intelligence (AI) is changing the way businesses operate, but there’s a big difference between having access to AI and knowing how to put it to work.
That’s where Palantir Technologies (NASDAQ: PLTR) comes in. And it’s why I believe the company’s growth story is far from over. Despite a gain of more than 1,000% over the last three years, Palantir stock still has enormous potential — and it’s continuing to grow its business at an astounding rate.
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Palantir’s Artificial Intelligence Platform (AIP) helps businesses and government agencies turn enormous amounts of information — collected from thousands of sources, including satellites — into real-time insights. In short, Palantir’s software helps organizations make decisions, improve efficiency, and solve complicated problems.
That’s an incredibly valuable position in the AI marketplace, and Palantir has shown repeatedly how it puts its platform to work. For example, the Japanese IT equipment and services company Fujitsu has used Palantir’s software to help a Japanese manufacturer connect information from more than 3,000 suppliers and 18 factories, generating more than $10 million in annual cost savings. Palantir and Fujitsu recently announced an expansion of their partnership that uses Fujitsu’s own large language model, Takane.
Palantir is also expanding its reach through partnerships with Nvidia, PwC, and Nebius Group, addressing opportunities ranging from critical supply chains to sovereign AI systems that give organizations greater control over sensitive data.
The new emphasis is on AI sovereignty
Palantir continues to sign up new business at an incredibly rapid rate. In the second quarter alone, Palantir closed 220 deals with customers valued at more than $1 million each, totaling more than $3.37 billion in contract value.
The company’s most recent efforts center on AI sovereignty, which it describes as the ability of a nation or organization to develop and control AI systems without relying on foreign governments or external technology providers. Palantir CEO Alex Karp has been outspoken on the topic, arguing that companies should control the value their AI creates rather than surrendering data to AI providers.
The company has conducted two “Sovereignty Bootcamps” this year to demonstrate Palantir’s capabilities in helping companies control and protect their AI. “With nearly 200 unique organizations in attendance across both, Palantir has also enabled the accelerated onboarding of net new customers who recognize that getting started quickly is critical for their own institutional sovereignty,” the company said. I fully expect these bootcamps to drive a wave of new business and enable U.S. commercial revenue to continue expanding at a triple-digit rate.
