Palantir Technologies (NYSE: PLTR) stock rose over 1% on Wednesday following CEO Alex Karp’s interview on CNBC.
Alex Karp, the CEO of Palantir, recently appeared on CNBC and discussed the company’s new $178 million contract with the U.S. Army to develop TITAN ground systems. These systems use artificial intelligence and machine learning to improve deep-sensing capabilities.
Karp also shed light on Palantir’s innovative initiative, the AIP Bootcamp, which aims to swiftly equip users of the company’s Artificial Intelligence Platform (AIP) with operational proficiency within hours. Last week, Palantir’s AIPCon also featured the AIP Bootcamps.
In a separate development, Dan Ives, an analyst at Wedbush Securities, has revised the price target for Palantir upwards from $30 to $35.
The analyst note read,
“With a strong product portfolio coupled with AI, we expect PLTR to garner a meaningful share of what we believe to be a $1 trillion AI Global TAM as enterprise and government ecosystems rush to implement useful platforms for automating complex workflows.”
Palantir Technologies (NYSE: PLTR) Stock Price Action
PLTR stock jumped 1.21% to close at $25 on Monday. The traders had exchanged hands with 59,362,292 (59.36 million) shares compared to the average daily trading volume of 72.51 million.
