The artificial intelligence market has winners and losers. SMCI is worst S&P 500 performer in October after the firm failed to file its annual report. Palantir (PLTR) is today’s winner after it reported third-quarter results on Nov. 4, 2024.
Palantir reported strong demand for its AI tools. U.S. commercial revenue grew by 54%, thanks to the firm’s shift towards the private-sector market. The market will continue to recognize that the company may extract value from large language models. This is valuable for its customers.
Watch for SoFi (SOFI) to add to its 4.67% gain from yesterday. The firm has the potential to grow and gain market share in the financial services market. Its non-lending segment is a growth driver. The company could report higher customer growth in its next report. New products would drive its member base count.
Astera Labs (ALAB) should add to yesterday’s 37.7% gain. The firm posted Q3 revenue of $113.1 million, earning $0.23 a share (non-GAAP). Once the stock crosses $100, investors will further appreciate its play in the AI space. In the quarter, the company said that it is entering a new growth phase. This is due partly to AI.
Astera’s CEO, Jitendra Mohan, said, “Our business has now entered a new growth phase with multiple product families ramping across AI platforms based upon both third-party GPUs and internally developed AI accelerators.”