Get Ready for Palantir Stock to Ride a ‘Tidal Wave’ of Federal Spending

Palantir Technologies (PLTR) had an incredible 2024, with its stock shooting up 340%, making it the best performer in the S&P 500 Index ($SPX) and the third-best in the Nasdaq-100 Index ($IUXX). This huge jump came from growing demand for its AI solutions, an uptick in government contracts, and smart moves in the commercial space.  

The company’s success is tied to artificial intelligence (AI), which dominated investments in 2024. While giants like Nvidia (NVDA) and Microsoft (MSFT) led early on, Palantir stood out by using its platforms — Gotham for government clients and Foundry for businesses — to deliver powerful AI tools.