Palantir CEO: We're bringing revenue growth at much lower costs to regional banks
Palantir CEO Alex Karp and Tulco CEO Thomas Tull, join 'Power Lunch' to discuss Palantir's partnership with Elon Musk's xAI and bringing AI to financial services.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
8 hours ago
- Miami Herald
Amazon's latest big bet may flop
Science does not understand consciousness; this is an unsolved problem. Consciousness is possible with little to no intelligence, but there is no such thing as intelligence without consciousness. If you don't understand something, can you recreate it? I don't think it is likely to happen. How many neurons does an ant have? According to the University of Arizona News, a desert-harvesting ant species has about 90,000 or so brain cells. How did this question make you feel? Did it make you angry, surprised, or curious? Normally, if we are not under pressure, and there will be no negative outcome, if we are asked something we can't answer, there is no negative emotional reaction to it. Related: Veteran fund manager reboots Palantir stock price target If you are told something incorrect and genuinely understand the truth, you will not react angrily. Let's say someone tells you that the sky is brown. You might get worried about that person's health or question their intentions, but you shouldn't get angry. If a person's belief is questioned, we can expect an adverse reaction, especially if the belief is important and the argument against it is convincing. Sometimes we mix up what we know and think we know, but it is still a belief we have. When I first heard of Amazon's (AMZN) "Just Walk Out" system, I immediately saw the scene from a Silicon Valley TV show in which Jared hired a "click farm" in India to generate fake user activity for his company's website. I was convinced this Amazon system was a huge number of Indians doing the work and not an "AI." It turned out I was right. A lot of companies have been put into a tough spot by the tariff war. Amazon is no exception, and CEO Andy Jassy tried to explain how he plans to handle the situation during the company's first-quarter earnings call. "It's hard to tell what's going to happen with tariffs right now. It's hard to tell where they're going to settle and when they're going to settle. And so, a lot of what we're thinking about short and medium term actually turns out to be what we think about long-term too, which is, how do we actually have the broadest possible selection for customers at the lowest possible prices?" stated Jassy. Related: Samsung Galaxy phones add creepy AI feature It seems that the real answer is to create savings in Amazon's logistics. The company recently introduced a Vulcan robot, which, from what I've seen, is an advanced packing machine. Amazon calls it a robot because it sounds so much cooler. It is a good machine, and it probably saves the company a lot of money. After all, it can work for 20 hours straight without stopping. But it is not a robot replacing humans. It is a machine that helps them waste less time. Recently, an AI tech startup, Builder AI, backed by Microsoft, went bankrupt. They were building an AI platform that would make creating applications as "easy as ordering pizza". Even if you are not familiar with the story, you should be able to figure out where I am going with this. Real people were writing the code, not AI. This is what happens when companies start believing their marketing, and even the big ones are not immune to it. More Retail: Huge retail chain closing more stores soon (locations revealed)Struggling drugstore chain announces second bankruptcyBeloved discount grocery chain has massive US plans Amazon seems to be set in the direction of repeating the mistake of "Just Walk Out" deception. This time, it's betting it will make huge savings on logistics. Unconfirmed media reports suggest that Amazon is developing software for humanoid robots that could eventually be used in its delivery operations. According to the reports, Amazon is creating a "humanoid park" closed-course environment to test the humanoid robots before testing them on real streets. Based on this information, Morgan Stanley analyst Brian Nowak gave us his opinion. Related: Nvidia, Dell announce major project to reshape AI The analyst previously estimated that Amazon is working on automating its fulfillment costs (approximately 18.6% of retail revenue) and that every 10% of US units that go through new robotics-enabled warehouses can drive between $2 billion and $3 billion of annual savings in 2030. "New headlines support our previous views that Amazon is also taking steps to automate its shipping and last-mile logistics (which also make up 17.5% of retail revenue). The potential timing of these humanoids may admittedly be further out, but when we combine this with autonomous long-haul and last mile trucking, and drones, we see a path over the next 5-10 years where Amazon is set to be able to deliver more items to more people faster and in a more cash flow generative manner," said Nowak and his team. "This should enable AMZN to invest in price and technology to drive further share gains, while also delivering more free cash flow for shareholders." Morgan Stanley analysts maintained Amazon's overweight rating, with a price target of $250. I expect that if the "robots" launch, humans will remotely control them. Whether or not this leads to actual savings is another thing. Related: Popular cloud storage service might be oversharing your data The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
10 hours ago
- Yahoo
Veteran fund manager reboots Palantir stock price target
Veteran fund manager reboots Palantir stock price target originally appeared on TheStreet. There's been a lot of debate surrounding artificial intelligence stocks this year. A boom in AI spending, particularly by hyperscalers ramping infrastructure to meet surging research and development of chatbots and agentic AI, led to eye-popping returns for companies like Palantir Technologies, which markets data analytics platforms. However, concern that spending could decelerate has picked up in 2025 because of worry over a tariffs-driven recession, causing many AI stocks like chip-maker Nvidia to the eventual impact of tariffs on recession remains a question mark, there's been little to suggest demand for Palantir's services is slipping. Solid first-quarter earnings results and optimism that trade deals could make tariffs manageable have helped Palantir shares rally 63% this year after a 340% surge in 2024. Palantir's resiliency isn't lost on long-time money manager Chris Versace. Versace, who first picked up shares last year, recently updated his price target as Palantir's stock challenges all-time highs. Investors' interest in Palantir stock swelled after OpenAI's ChatGPT became the fastest app to reach one million users when it was launched in December 2022. ChatGPT's success has spawned the development of rival large language models, including Google's Gemini, and a wave of interest in agentic AI programs that can augment, and in some cases, replace traditional activity is widespread across most industries. Banks are using AI to hedge risks, evaluate loans, and price products. Drugmakers are researching AI's ability to predict drug targets and improve clinical trial outcomes. Manufacturers are using it to boost production and quality. Retailers are using it to forecast demand, manage inventories, and curb theft. The U.S. military is even seeing if AI can be effective on the battlefield. The seemingly boundless use cases — and the ability to profit from them — have many companies and governments turning to Palantir's deep expertise in managing and protecting data to train and run new AI apps. Palantir got its start helping the U.S. government build counterterrorism systems. Its Gotham platform still assists governments in those efforts today. It also markets its Foundry platform to manage, interpret, and report data to large companies across enterprise and cloud networks. And its AI platform (AIP) is sold as a tool for developing AI chatbots and apps. Demand for that platform has been big. In the fourth quarter, Palantir closed a "record-setting number of deals," according to CEO Alex Karp. The momentum continued into the first quarter. Revenue rose 39% year-over year to $884 million. Meanwhile, Palantir's profit has continued to improve as sales have grown. In Q1, its net income was $214 million, translating into adjusted earnings per share of 13 cents. "Our revenue soared 55% year-over-year, while our U.S. commercial revenue expanded 71% year-over-year in the first quarter to surpass a one-billion-dollar annual run rate,' said Karp in Palantir's first-quarter earnings release. 'We are delivering the operating system for the modern enterprise in the era of AI." AI's rapid rise has opened Palantir's products to an increasingly new range of industries, allowing it to diversify its customer base. For example, Bolt Financial, an online checkout platform, recently partnered with Palantir to use AI tools to analyze customer behavior better. More Palantir: Palantir gets great news from the Pentagon Wall Street veteran doubles down on Palantir Palantir bull sends message after CEO joins Trump for Saudi visit The potential to ink more deals like this has caught portfolio manager Chris Versace's attention. "The result [of the Bolt deal] will be technology that can offer shoppers a customized checkout experience, embedded within retailers' sites and apps, and it is one that will extend to agentic checkout as well," wrote Versace on TheStreet Pro. "We see this as the latest expansion by Palantir into the commercial space, and we are likely to see more of this as AI flows through payment processing and digital shopping applications." Alongside Palantir's deeply embedded government contracts, growing relationships with enterprises should provide Palantir with cross-selling opportunities, further driving sales and profit growth, allowing for increased financial guidance. Palantir is guiding for full-year sales growth of 36%, and U.S. commercial revenue growth of 68%. The chances for Palantir growth to continue accelerating has Versace increasingly optimistic about its shares. As a result, he's increased his price target to $140 per share from $ fund manager reboots Palantir stock price target first appeared on TheStreet on Jun 8, 2025 This story was originally reported by TheStreet on Jun 8, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
11 hours ago
- Yahoo
Dow Jones Futures Rise: Trump Warns Musk Of 'Serious Consequences'; China Trade Talks Loom
The S&P 500 is nearing recodr highs. Palantir is back in a buy area. Tesla investors should focus on this amid the Trump-Musk feud.
