Palantir's Stock Valuation Still Looks Absurd. Here's Why Investors Keep Buying It Anyway.

When OpenAI publicly released ChatGPT on Nov. 30, 2022, shares of Palantir Technologies (PLTR 3.21%) were trading for $6. Today, the stock hovers around $150 -- a nearly 2,000% gain in just three years.With a market cap of $368 billion, Palantir is almost worth the combined value of legacy enterprise software stocks Salesforce and SAP. It's obvious by now that demand for artificial intelligence (AI) is the core tailwind fueling Palantir's parabolic rise.The question some are asking is whether Palantir's soa ...