Palantir's A.I. ambitions divide analysts. A bull and bear make their cases

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Alex Karp, chief executive officer of Palantir Technologies Inc., speaks during the 2023 CERAWeek by S&P Global conference in Houston, Texas, US, on Tuesday, March 7, 2023. Palantir Technologies raised its annual revenue target on Monday as it sees an opportunity to commercialize AI, but not all analysts are convinced. On Monday, CEO Alex Karp said Palantir's aim is to make money from AI, instead of merely producing tools that write computer-generated poetry. Some companies have restricted their employees from using such tools like OpenAI's ChatGPT. "We will figure out how to monetize it," Karp said, referring to Palantir's artificial intelligence platform, or AIP. According to the company's website, AIP will allow businesses as well as defense and military organizations to tap large language models and AI to aid in decision-making. Dan Ives, managing director at Wedbush Securities, is bullish on Palantir's AI ambitions. On Monday, the firm said "a star is born," referring to AIP. "That's probably the best pure play AI name, in terms of them monetizing not just on the government side, but on the enterprise side when it comes to AI," said Ives on CNBC's "Street Signs Asia" on Tuesday. Palantir recently announced it was awarded a five-year contract worth up to $463 million from the U.S. Special Operations Command. "And I think we saw this as an inflection point quarter, where this remains, in our opinion, one of the core AI names over the coming years," said Ives.