15 Trending AI Stocks on Latest Analyst Ratings and News

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11. Palantir Technologies Inc. (NYSE:PLTR)

Number of Hedge Fund Holders: 44

Palantir Technologies Inc. (NYSE:PLTR) is a software company that builds the world’s leading platforms for data-driven operations and decision-making. The company is recognized as a leader in artificial intelligence and machine learning (AI/ML) software platforms.

Palantir Technologies Inc. (NYSE:PLTR) shares have more than doubled so far this year, driven by the surge in demand for its artificial intelligence platform. It released its Q3 earnings report on Monday, November 4th, raising its annual revenue forecast for the third time. The annual revenue forecast rise is driven by strong government spending and increased demand from businesses adopting generative AI technology. It now expects 2024 revenue in a range of $2.805 billion to $2.809 billion, up from its prior expectation of $2.742 billion to $2.750 billion.

“Top line growth, which is driven by the demand for AI, (is) flowing through to the bottom line”.

-CFO David Glazer told Reuters.

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