Palantir Technologies on 'Golden Path' to Trillion-Dollar Market Cap, Wedbush Securities Says

MT Newswires Live00:03

Palantir Technologies (PLTR) is on a "golden path" to become a trillion-dollar market cap company in the coming years as it continues to expand globally while maintaining a leading position in artificial intelligence, Wedbush Securities said in a note Friday.

The investment firm said Palantir continues to see "unprecedented demand" for its AI platform, particularly in the US commercial sector.

There is almost an equal split between new multiyear-deal customers and existing customers looking to increase spending, Wedbush added.

Wedbush also noted Palantir's launch of the Chain Reaction operating system with partners Nvidia (NVDA) and CenterPoint Energy (CNP), which aims to build new infrastructure for AI software.

Wedbush Securities reiterated its outperform rating and $230 price target on Palantir Technologies.

Price: 180.32, Change: +2.40, Percent Change: +1.35

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