July 18, 2024

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2 Artificial Intelligence (AI) Stocks to Buy Now That Could Make You a Millionaire

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“We’ve seen a lot of exciting waves of technology in our industry — the cloud, social, mobile — but this AI wave is going be the biggest that anyone has ever seen.” Salesforce CEO Marc Benioff

The artificial intelligence (AI) boom is set to be an enormously lucrative opportunity for savvy investors. Here are two AI leaders who are particularly well-positioned to deliver fortune-building gains to their shareholders in the coming years.

1. Palantir Technologies

Generative AI model makers like OpenAI get a lot of attention, but the best AI investments are likely to be the analytics all-stars that can use AI to help companies make the most of their data. Palantir Technologies (NYSE: PLTR) provides elite machine-learning technology and a game-changing new AI platform that can do just that.

Palantir enables its clients to extract valuable insights from a variety of disparate data sources in real time. Its tools are prized by the U.S. military and multiple government agencies.

On May 30, the company won a contract with an initial order of $153 million — and additional awards of up to $480 million — to make its AI operating system available across the Department of Defense. Palantir’s head of defense growth, Shannon Clark, said the tools will enable commanders “to make better, faster decisions across all domains at unprecedented scale.”

Its new Artificial Intelligence Platform (AIP) is also a hit with private companies. For example, Tampa General, a leading academic health system, recently chose AIP to be its core analytics and AI platform.

Notably, Tampa General credits Palantir with helping it slash the amount of time required to place patients by 83%. “Less time waiting for placement and a reduced length of stay does not just enhance the patient experience, it gives us an opportunity to treat more patients that need care,” Tampa General Hospital CEO John Couris said on June 5.

These real-world benefits are driving customers to Palantir. Its revenue rose by 21% year…

2024-06-16 03:35:00

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