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Benzinga
Benzinga
Business
Surbhi Jain

Palantir's Rally Is Replaying Cisco's Dot-Com Setup—And That Ended Brutally

Palantir Cisco Adobe Adobe Inc CRM Nvidia Corp Palantir Technologies Inc PLTR Salesforce Salesforce Inc
Kaufbeuren,,Germany,-,April,27,,2021:,Palantir,Company,Logo,On

Wall Street's AI fever just crowned a new star. Palantir Technologies Inc (NASDAQ:PLTR), once a niche data analytics shop, now flaunts a $396 billion market cap on just $3.3 billion in recurring revenue. Its sky-high 93x ARR multiple makes Nvidia Corp's (NASDAQ:NVDA) surge look modest and dwarfs peers like Salesforce Inc (NYSE:CRM) and Adobe Inc (NASDAQ:ADBE), noted a chart posted on X.

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