Prediction: This Artificial Intelligence (AI) Stock Will Be Worth $1 Trillion in 5 Years

The adoption of artificial intelligence (AI) is progressing rapidly as companies and governments across the globe are ramping up their spending on the technology. While improving productivity and efficiency, AI is also speeding up decision-making processes by analyzing data in real time.Not surprisingly, the demand for AI software has been increasing at an exponential pace to unlock the potential of this technology. ABI Research estimates that the AI software market could clock an annual growth rate of 25% through 2030, generating $467 billion in annual revenue at the end of the decade. Palantir Technologies (NASDAQ: PLTR) is a company that can help investors capitalize on this lucrative opportunity.The software specialist has seen a nice uptick in its growth on account of the healthy demand for its AI offerings. Palantir stock has jumped just over 5x in the past year thanks to AI, bringing its market cap to $335 billion. Of course, the stock is quite expensive right now following its astronomical jump. However, it wouldn't be surprising to see Palantir stock jump another 3x in the next five years and hit a $1 trillion market cap. Let's see why that may be the case.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool