- PLTR stock price rises for two consecutive trading sessions.
- The company plans an AI platform for military and commercial uses, AIP.
- The bull trend is expected in May-end.
Palantir Technologies plans to release the Artificial Intelligence Platform, or AIP, in a letter from CEO Alex Karp. The data analytics software company provides systems for managing large datasets to the government as well as the corporate customers. The CEO detailed out the plan and said the new software will integrate the company’s previously developed machine learning technologies with other applications. The AIP model will aim to collaborate with the kind of large language models used to power OpenAI’s ChatGPT, Google Bard and others of such kind.
Palantir eyes both government customers as well as the commercial users. As per Karp’s statement, the first version of AIP will be available to initial partners in the coming week, but not later than the May-end. Karp further mentioned the system’s ability to combine public and private databases. It will help transform the latest large language models into something that provides value to the user.
PLTR Stock Price Analysis
PLTR stock price forms a rising channel, with current price rising from the demand zone. The rise in price was observed after dips for two trading sessions. The current price action coincides with the EMA ribbon, which forms a bullish crossover to suggest a future rise. The surging prices can face rejection near $9.00 and find support at $7.50. The price uptrend reached the 0.382 level, but can retrace once it reaches 0.618 level of Fib Retracement.
PLTR stock price displayed a contained movement within the channel. The trading volume observed an uptick in sales after which immediately changed to purchases. The MACD is unable to form a distinct cross and display a fully buyer or seller controlled market. The RSI spikes and reaches the 55-range to show gradually rising buyer interest. The indicators are bullish at press time, but do not ensure prolonged bull trend.
Conclusion
Palantir plans to bring an AI platform, or AIP which can integrate the company’s previously produced technologies with the large language models and other applications. The new platform will target both commercial and government customers. The CEO of Palantir Technologies listed out various features of the new AIP, and mentioned its ability to combine public and private data. The PLTR stock price, after the announcement, rose and marked a bull trend. The rising prices can face resistance near $9.00.
Technical levels
Support levels: $7.50 and $7.00
Resistance levels: $9.00 and $10.15
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/04/11/pltr-stock-price-prediction-palantir-to-begin-ai-mission-soon/