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Brief news summary
Shares of Palantir (PLTR) are declining in after-hours trading despite the company raising its full-year guidance. RBC Capital Markets Software Equity Analyst Rishi Jaluria discusses Palantir's first quarter earnings and the market's reaction in relation to the artificial intelligence race. While Palantir exceeded sales expectations for the first quarter, it experienced a decrease in US commercial growth from 70% to 40%. Jaluria attributes this slowdown to the company's over-hyped AI capabilities and skepticism surrounding its boot camp strategy. He suggests that more established tech companies like Microsoft (MSFT) may be a better option in the AI space. The market reaction and Jaluria's analysis are discussed in a video transcript.Palantir (PLTR) shares are declining in after-hours trading despite the company's raised full-year guidance. RBC Capital Markets Software Equity Analyst Rishi Jaluria explains that while Palantir exceeded sales expectations in the first quarter, there was a decrease in US commercial growth from 70% to 40%.
Jaluria suggests that Palantir's slow US commercial growth is due to skepticism over its artificial intelligence capabilities and its boot camp strategy. He cautions that Palantir may not be as cutting-edge in the AI field as it claims to be and suggests that established tech companies like Microsoft (MSFT) may be a stronger investment option.
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