We recently published a list of 10 AI Stocks to Watch on Latest News and Analyst Ratings. In this article, we are going to take a look at where Palantir Technologies Inc. (NYSE:PLTR) stands against other AI stocks to watch on latest news and analyst ratings.
AI discussion boards online are buzzing with a new development where tech experts are pointing to a possible plateauing of performance in artificial intelligence applications.
CNBC’s Deirdre Bosa in a latest program quoted tech investor Ben Horowitz, who said in a recent podcast that he’s not seeing performance improvement despite increasing GPUs.
“We’re increasing GPUs at the same rate, but we’re not getting the intelligence improvements at all out of it.”
OpenAI is reportedly facing similar problems with its upcoming AI model.
“The Information reports that the quality increase in OpenAI’s upcoming advanced model, Orion, is smaller than the jump seen between the last two flagship models, GPT-3 and GPT-4. In other words, generational advancements may have peaked as the models are essentially running out of data to train on,” Bosa said.
While the next jump in AI performance is far away in the future, the possibilities this technology has unlocked based on the existing data and resources are keeping investors and Wall Street analysts busy.
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In this article we take a look at top AI stocks trending on the back of latest news and analyst ratings. With each stock we have mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
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Number of Hedge Fund Investors: 44
Jefferies recently downgraded Palantir Tech Inc (NYSE:PLTR) to “Underperform” from “Hold,” citing concerns over the stock’s overvaluation and indicating that it is waiting for a more favorable entry point.
The investment firm has set a target price of $28 for the stock.
Analysts, led by Brent Thill, acknowledged that they underestimated the surge in momentum Palantir Tech Inc (NYSE:PLTR) generated following the introduction of its Artificial Intelligence Platform (AIP) boot camps. They also failed to fully appreciate the company’s ability to deliver four consecutive quarters of accelerating growth, both in top-line revenue and remaining performance obligations (RPO), following a series of underwhelming results in the first three quarters of 2023.