10 AI Stocks Making Waves on Wall Street

6. Palantir Technologies Inc. (NASDAQ:PLTR)

Number of Hedge Fund Holders: 43

Palantir Technologies Inc. (NASDAQ:PLTR) is a leading provider of artificial intelligence systems. On February 3^rd, the company announced financial results for the fourth quarter and fiscal year ended December 31, 2024. Palantir has had a strong quarter. The company posted adjusted earnings per share (EPS) of 14 cents, surpassing the consensus estimate of 11 cents according to data compiled by LSEG. Revenue also came in higher than expected, reaching $828 million compared to analysts’ projections of $776 million. Showcasing strong momentum, Palantir closed 129 deals of at least $1 million, 58 deals of at least $5 million, and 32 deals of at least $10 million. Besides the fourth-quarter beat, the company also provided better-than-expected guidance. It expects revenue of between $858 million and $862 million, ahead of an LSEG estimate of $799 million. For the full year, the company forecast sales of $3.74 billion to $3.76 billion, exceeding the $3.52 billion average estimate. Palantir’s Chief Revenue Officer Ryan Taylor told Reuters that the revenue is being driven by both new customers and the expansion of those customers with Palantir’s Artificial Intelligence Platform AIP. According to CEO Alexander Karp, there is an “untamed organic growth” in demand for its artificial intelligence software.

“Our business results continue to astound, demonstrating our deepening position at the center of the AI revolution. Our early insights surrounding the commoditization of large language models have evolved from theory to fact. I would also like to congratulate Palantirians for their extraordinary contributions to our growth. They have earned every bit of the compensation from the delivery of their market-vesting stock appreciation rights (SARs).”

-Alexander C. Karp, Co-Founder and Chief Executive Officer of Palantir Technologies Inc.

Responding to queries regarding DeepSeek, Reuters reported that Karp has discouraged its clients from using DeepSeek, stating that U.S. government customers would be unable to use the Chinese company’s models.