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The integration of generative AI software tools by companies and governments accelerates the growth of this company.
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The AI software platform has been assessed to be better than that of some of the biggest names in the technology room.
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These high-flying AI shares can become the following big name in technology, because it is on schedule to capture part of a market for millions of dollars.
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10 shares that we like than Palantir Technologies ›
“Big Tech” refers to the largest and most influential companies in the world, many of which are now witnessing remarkable growth thanks to the proliferation of artificial intelligence (AI).
Nvidia” Meta platforms” AlphabetAnd Amazon Have benefited from AI acceptance in multiple verticals such as Cloud Computing, Social Media, Digital Advertisements and E-Commerce. And now there is another company that experiences a strong acceleration of growth due to the increasing demand for generative AI software.
Palantir Technologies (Nasdaq: PLTR) Originally made by offering his name by offering software and analyzes solutions to intelligence services in the US, but in recent years its growth has improved by selling its AI software solutions to commercial customers. The company now seems to be on its way to becoming one of the most important names in AI software.
Let’s look at the reasons why Palantir could become the next addition to the selection of the names of Big Tech.
Palantir’s Artificial Intelligence Platform (AIP), which was introduced in April 2023, has become a huge hit among customers. The platform enables both government and commercial customers to use large language models (LLMS) and other AI tools to automate processes and build applications to improve efficiency and productivity.
AIP is arranged as the best AI platform by Forrester researchAbove what is offered by other Tech Titans. It helps to land new customers, as shown in the following table in following the increase in general customers since the launch of AIP in April 2023, and the value of new contracts that the company has signed every quarter.
|
Period |
Total number of customers |
Total contract value booked |
|---|---|---|
|
Q2 2023 |
421 |
$ 642 million |
|
Q3 2023 |
453 |
$ 830 million |
|
Q4 2023 |
497 |
$ 1.15 billion |
|
Q1 2024 |
554 |
$ 904 million |
|
Q2 2024 |
593 |
$ 946 million |
|
Q3 2024 |
629 |
$ 1.1 billion |
|
Q4 2024 |
711 |
$ 1.4 billion |
|
Q1 2025 |
769 |
$ 1.5 billion |
|
Q2 2025 |
849 |
$ 2.3 billion |
Source: Palantir Quarterly Reports and win Call Transcripts
The number of customers has doubled in recent years. At the same time, the size of the contracts it signs has risen considerably. This is evident from the almost four -time growth in the total contract value (TCV) in the same period.
AIP also encourages a higher contract value because it also encourages existing users to sign larger contracts. During the recent income conference, management said that it sees “existing customers expand their work faster.”
As a result, Palantir is now at $ 7.1 billion in remaining deal value (RDV) – the total value of his unfulfilled contracts at the end of the previous quarter. The jump of 65% on an annual basis in this statistics was higher than the increase in the quarterly turnover of 48% in the company’s turnover to $ 1 billion. Palantir therefore has a strong visibility of income that will probably translate into years of growth.
The turnover profits of the company and the pace at which the new contracts signs mean that it expands faster than the market for the AI software platform, which is expected to show an annual growth rate of almost 39% to 2030. According to a report from research markets and markets, the AI software platforms are expected to generate a little more than $ 18 billion in winning and $ 94 billion in 2030.
The market is expected to grow five times towards the end of the decade. Palantir expects his turnover of 2025 to land at $ 4.1 billion. That would be his share in the AI software platform market at almost 23% places (based on the expected market size of $ 18 billion). If it continues to grow at a faster pace than the market, as it is currently, the share in this space would increase by 2030.
Assuming that the company can increase its share to 30%by 2030, the annual turnover could reach $ 28 billion (based on the aforementioned $ 94 billion estimate). But then Palantir has the potential to do better than in view of the leading position in the AI software platform market. Moreover, there are other estimates that indicate that the annual income from AI software platforms can increase to $ 153 billion in 2028 in 2028.
As a result, the actual growth of Palantir Technologies can prove to be much faster than expected in the coming years, and that can be enough to help it to become the following name in Big Tech.
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Harsh Chauhan has no position in one of the aforementioned shares. De Motley Fool has positions and recommends Alphabet, Amazon, Meta Platforms, Nvidia and Palantir Technologies. The Motley Fool has a disclosure policy.
These Artificial Intelligence (AI) shares could be that the next Tech -Titan was originally published by the Motley Fool
