There may not be a hotter stock on Wall Street right now than Palantir Technologies. The company's artificial intelligence (AI) software is revving its growth engine, and there is a wide-open market opportunity in both government and the private sector. The stock is up approximately 800% since the start of last year.

Let's take a look at the state of Palantir and where its stock might be three years from now. Palantir exceeded already high expectations from Wall Street. The company brought in $725 million for the quarter -- handily beating the analyst average of $703 million -- representing more than 27% growth from a year ago.

Palantir Technologies (NYSE: PLTR) and Microsoft (NASDAQ: MSFT) have both profited from the rapid expansion of the artificial intelligence (AI) market. Palantir aggregates large amounts of data from disparate sources to help its clients make faster decisions,

Palantir Technologies (PLTR) is falling from record highs after a downgrade from Jefferies, though the firm also announced a partnership with Amazon

Palantir Technologies (PLTR) and SoundHound (SOUN) stocks have delivered jaw-dropping returns in 2024. PLTR stock has surged about 242% year-to-date, and SoundHound has outpaced it with a staggering 258% gain.

Palantir 's (NYSE: PLTR) stock hit a record high of $51.13 on Nov. 5. Its 223% year-to-date rally was driven by its accelerating revenue growth, soaring profits, and its inclusion in the S&P 500. The buying frenzy in AI stocks,