Palantir’s CEO Just Said “We Don’t Play Golf, We Play Software.” Here’s My Interpretation.>
The Motley Fool – Adam Spatacco
Palantir, known for its data analytics software like Foundry, Apollo and Gotham, launched its new Artificial Intelligence Platform (AIP) in April 2023
AIP has been a major success for Palantir
At a recent customer event, examples showcased how AIP is transforming businesses
Instead of traditional wining and dining for sales, Palantir takes an unconventional approach with “boot camps” where prospects can demo AIP and identify AI use cases
Palantir hosted 92 customer demo pilots in 2022, but has conducted 850 boot camps since AIP’s launch, driving strong customer acquisition growth
This product-focused approach, combined with the CEO’s bold statements like “We don’t play golf, we play software”, is helping build Palantir’s brand equity in AI
However, Palantir faces intense competition from Microsoft, Databricks, Amazon and others in the AI space
Palantir’s stock has soared 167% in 2023 so far, leading to an extended valuation with a price-to-sales ratio of 26.9x
While the valuation is high, the article suggests long-term investors could consider dollar-cost averaging into Palantir as its AI journey is just beginning
In essence, the success of Palantir’s new AI platform through its innovative marketing approach has fueled strong growth and brand reputation in AI, though at a premium valuation currently.
Link: https://www.fool.com/investing/2024/03/16/palantirs-ceo-just-said-we-dont-play-golf-we-play/