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When it comes to artificial intelligence (AI), the “Magnificent Seven” stocks probably come to mind. The moniker includes the majority of megacap companies leading the AI revolution: Apple, Alphabet, Microsoft, Nvidia, Tesla, Meta Platforms, and Amazon.
One company that might be getting overlooked in the AI arms race is Palantir (NYSE: PLTR). While the data analytics company is best known for its close ties to the U.S. military and its allies, Palantir is far more than a government contractor. It has a growing presence in the private sector and works with customers across a variety of markets.
Yet despite this, the stock is trading roughly 50% below its all-time highs. And while some on Wall Street remain skeptical of Palantir’s long-term potential, one notable investor in particular has been buying the dip. The funds of ARK Invest CEO Cathie Wood have ratcheted up their buying of Palantir as of late.
For the trading period between Dec. 6 and Dec. 15, Ark…
2023-12-15 17:22:00
Original from finance.yahoo.com