NVIDIA VS PALANTIR: WHO WILL WIN THE AI BATTLE?
Nvidia and Palantir Technologies are dominating the stock market this year thanks to their artificial intelligence (AI) efforts, with Nvidia stock skyrocketing by 225% and Palantir gaining 177%. But which one should you invest in? Let’s take a closer look!
THE CASE FOR NVIDIA
Nvidia is on fire, with a whopping 206% year-over-year increase in revenue, reaching a record $18.1 billion. Its demand for AI hardware is so strong that customers are reportedly having to wait up to a year to get their hands on Nvidia’s AI chips.
Sanford C. Bernstein estimates Nvidia sold almost half a million units of its data center GPUs last quarter. The semiconductor giant expects to ship more than half a million units once again in the current quarter, showing that its AI-fueled growth is far from over.
THE CASE FOR PALANTIR TECHNOLOGIES
On the software side of things, Palantir is making waves in the AI market. The company’s Artificial Intelligence Platform (AIP) is gaining traction, with almost 300 organizations using the product within five months of launch. Despite a slowdown, it seems Palantir is positioning itself as a top AI pick in the future.
THE VERDICT
When it comes to investing, Nvidia emerges as the victor. It is the less expensive AI stock of the two companies being discussed here, with a relatively more attractive valuation compared to Palantir. With its rapid growth and strong performance, Nvidia is the stock to bet on in the AI race.
THE FINAL WORD
If you should promise massive growth in stocks in 2024, would you bet your investment on Nvidia or Palantir? Share your thoughts on which company you think deserves the AI crown!
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