A top analyst from the American bank Citi warns that the success of the software company Palantir Technologies may not be permanent. The company, which was co -founded by investor Peter Thiel, is currently benefiting from the great interest in artificial intelligence.
Palantir is going to lose a strong position
According to analyst Tyler Radke, Palantir has a strong position because organizations worldwide have to put their data in order before they can use AI applications. “Their data ontology product helps companies and governments worldwide and opens doors at large institutions, even at banks,” Radke said in an interview with CNBC.
Nevertheless, the analyst comments on the shelf life of that lead. “Today we don’t see a clear competitor but that can change. As AI develops further and large language models are taken into production, the question is whether Palantir can retain his benefit.”
Stock price doubled since January
Palantir has risen rapidly at the stock exchange this year. The share closed on Thursday at $ 156, more than doubling since January. This brings the market value to more than $ 370 billion.
Radke emphasizes that Palantir has an excellent working product, but that the risks for investors increase. “The rest of the sector follows their example and has enormous resources. The phase in which data organization is central will evolve. This is only the start of the AI market.”
Thiel invests big in Ethereum
In addition to investments in tech companies, Thiel is now also known as a large bull in the field of Ethereum. In this way he starts investing firmly in companies that buy Ethereum as a spare asset.
Source: https://newsbit.nl/citi-waarschuwt-voor-beurscrash-voor-bedrijf-van-ethereum-investeerder-peter-thiel/
