Palantir Technologies Inc. (PLTR) Rises with Trump Connection

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) rose by over 5% today, all thanks to a The New York Times report underlining the giant’s enhanced involvement with the Trump administration’s initiatives related to data-sharing.

In the report, it was disclosed that the data analysis and artificial intelligence software firm would be a key leader in U.S. President Trump’s order to increase inter-agency data sharing. The move that has the potential to strengthen the President’s surveillance capabilities highlights that the company is all set to chase public sector contracts and opportunities.

Palantir Technologies Inc. (PLTR) Rises with Trump Connection

Just last week, PLTR secured a $795 million U.S. Army modification to the contract for Maven Smart System software licenses. During that time, the company also submitted proposals in response to Trump’s $175 billion global missile defense system project. Indeed, Palantir Technologies Inc. (NASDAQ:PLTR) is keeping strong ties with the state.

In just one year, PLTR has witnessed a price surge of about 500%, in contrast to the nearly 11% growth of the S&P 500. This is anything but minor. With management seeking possible contracts with the Social Security Administration and the Internal Revenue Service, the future, too, paints a compelling story.

While we acknowledge the potential of PLTR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PLTR and that has 100x upside potential, check out our report about this cheapest AI stock.

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