17 Trending AI Stocks According to Latest News And Analyst Ratings

8. Palantir Technologies Inc. (NYSE:PLTR)

Number of Hedge Fund Holders: 45  

Palantir Technologies Inc. (NYSE:PLTR) builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations. The firm recently announced that it would be partnering with tech giant Microsoft to provide artificial intelligence services for the defense and intelligence communities. Under the deal, the large language models of the latter via Azure OpenAI service will be integrated with the AI Platform of the latter in the government and classified cloud environments operated by Microsoft. The agreement will help operators safely build AI-driven operational workloads across defense and intelligence verticals, per the two businesses.

This new deal has excited analysts in the finance world, with Dan Ives of Wedbush maintaining an Outperform rating on Palantir Technologies Inc. (NYSE:PLTR) stock with a price target of $38, underlining that the new deal between Microsoft and Palantir was game-changing and a launching pad for the AIP platform of the latter. Per Ives, the deal will generate further momentum within the federal sector over the coming years with many government agencies seeking to integrate AI models to improve operational workloads.