Sticking With This Palantir Price Target After CEO Details AI ‘Frontier’ Concerns
Palantir CEO Alex Karp explained why clients are growing increasingly “unhappy” with the AI industry.
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Speaking on CNBC on Wednesday evening, Palantir Technologies (PLTR) CEO Alex Karp expressed some concerns over the contention between enterprise customers and “frontier” AI labs as the AI industry barrels toward being publicly listed.
Karp said that enterprise clients are growing increasingly “unhappy” with how these leading frontier labs operate. Karp added that, in private conversations with clientele, “every single enterprise we deal with” has expressed frustration.
Many believe that what we refer to as “frontier” labs lack a real understanding of the needs of business. Karp did note that many of Anthropic’s public-facing projects run on Palantir’s platform. He also called Anthropic CEO Dario Amodei a “very crucial person” in the AI space going forward.
New Chip Availability
On Wednesday, Amazon (AMZN) announced that its in-house Graviton5 CPU will now be available to general customers. Graviton5 has been around since December and in April, Meta Platforms (META) signed a deal to use tens of millions of these chips to scale its AI-focused efforts. Uber Technologies (UBER) and Snowflake (SNOW) have also signed on to make use of this CPU. Amazon claims that this chip already has more than 120,000 customers.
Other Recent Portfolio News
Amazon (AMZN)
On Thursday morning, analyst Justin Post of Bank of America reiterated a “buy” rating on AMZN along with his target price of $310. Post is rated at five stars out of five by TipRanks. Over the past two years, Post has had a 61% success rate with a 28% average return.
On Wednesday, analyst Mark Shmulik of Bernstein reiterated a “buy” rating on AMZN along with his target price of $315. Shmulik is rated at four stars out of five by TipRanks. Over the past two years, Shmulik has had a 58% success rate with a 16.4% average return.
Evolv Technology (EVLV)
On Wednesday, Evolv Technology (EVLV) announced that Evolv eXpedite, the firm’s AI-powered bag screening solution, had been awarded Safety Act Designation by the Department of Homeland Security. The Safety Act is intended to “encourage” the deployment of new technologies designed to help detect and deter acts of terrorism.
On Wednesday, analyst Michael Latimore of Northland Securities reiterated a “buy” rating on EVLV along with his target price of $10. Latimore is rated at four stars out of five by TipRanks. Over the past two years, Latimore has had a 36% success rate with a 19% average return.
Ondas Inc (ONDS)
On Wednesday, Ondas (ONDS) launched “LADOS” or the Layered Autonomous Defense Operational C2 System. The company stated that LADOS will serve as a unified command-and-control platform that connects sensors, drones and robotic systems into one operating environment for autonomous defense missions. It appears that LADOS will work well when paired with SkyWeaver, which is the Palantir-powered AI layer.
Rocket Lab (RKLB)
On Wednesday morning, analyst David E. Strauss of Wells Fargo reiterated a “hold” rating on (RKLB) along with his target price of $60. Strauss is rated at five stars out of five by TipRanks. Over the past two years, Strauss has had a 67% success rate with a 26.8% average return.
Wednesday’s Intention vs Wednesday’s Actual Trade
Intention: Purchase 5 shares of (PL) at or close to the last sale of $30.90
Actual trade: Bought 5 shares of PL at $30.61
Thursday’s Intentions
No new trades intended.
Current Positions
Long 100 shares of (ALTO) at $5.79. Target price: $9. Last sale: $5.82.
Long 3 shares of AMZN at $258.0567. Target price: $324. Last sale: $240.26.
Long 60 shares of EVLV at $5.9895. Target price: $8.50. Last sale: $5.90.
Long 200 shares of (OCUL) at $8.271. Target price: $11. Last sale: $8.74.
Short one OCUL $11 September 18 call at $1.65, Last sale: $1.28.
Short one OCUL $9 July 17 call at $0.90. Last sale: $1.28.
Long 150 shares of ONDS at $9.7624. Target price: $14. Last sale: $9.68.
Long 15 shares of PL at $34.32. Target price: $55. Last sale: $31.88.
Long 10 shares of PLTR at $137.906. Target price: $194. Last sale: $130.13.
Long 8 shares of (RKLB) at $77.9288. Target price: $185. Last sale: $109.16.
Long 150 shares of (SIDU) at $3.0909. Target price: $6. Last sale: $4.12.
Long 100 shares of (SNAP) at $5.625. Target price: $7.50. Last sale: $5.40.
Short one SNAP October 16 $6 call at $0.87. Last sale: $0.66.
Long 150 shares of (SOFI) at $15.9035. Target price: $24. Last sale: $16.11.
Short one SOFI August 21 $20 call at $1.02. Last sale: $0.73.
Long 35 shares of (VELO) at $12.3231. Target price: $30. Last sale: $24.51.
Cash: $194.07.
Portfolio Value: $11,739.31, +17.4% from inception on March 24.
At the time of publication, Guilfoyle was long ALTO, AMZN, EVLV, OCUL, ONDS, PL, PLTR, RKLB, SIDU, SNAP, SOFI and VELO.
