Palantir sees growth as AI adoption rises while Nvidia and others emerge as strong alternatives

Palantir Technologies saw significant growth in 2024, driven by increased adoption of its AI platform by U.S. commercial clients and government spending. The company is transitioning from proof-of-concept projects to full production, which may boost revenue further. In contrast, Nvidia is highlighted as a strong alternative investment. It has a lower valuation and dominates the GPU market, essential for AI infrastructure. Microsoft’s $80 billion investment in AI data centers signals ongoing growth in this sector. GitLab and AppLovin are also recommended as attractive AI stocks. GitLab's revenue grew 31% last quarter, fueled by its AI tools, while AppLovin's revenue surged 39%, driven by its AI adtech. Both companies offer promising growth potential at reasonable valuations.