Dan Ives said Palantir’s model sets it apart from traditional enterprise platforms as AI-driven competition intensifies.
- Ives said Palantir is only beginning to penetrate enterprise and commercial markets.
- He said Alex Karp is taking a different strategic approach than traditional software peers.
- Ives said Salesforce may need acquisitions as AI pressure builds.
Palantir Technologies (PLTR) could reach a trillion-dollar market capitalisation within the next two to three years as its AI platforms gain wider adoption across enterprise and commercial customers, according to Dan Ives, managing director at Wedbush Securities.
At the time of writing, the stock fell 0.1% to $193.8.
Ives Compares Palantir With Software Leaders
Speaking in a Yahoo Finance interview, Ives said investors are underestimating how disruptive Palantir’s software is becoming in the enterprise market, adding that the company has only just begun to tap into its commercial opportunity. He acknowledged the stock trades at a high valuation but said that over a three to five-year horizon, he views Palantir as comparable to major enterprise software firms such as Salesforce and Oracle.
Ives also said Palantir CEO Alex Karp is pursuing a different strategy than peers, describing him as “playing chess as a master wizard,” while others in the sector are “playing checkers at the kids’ table.”
Salesforce Not a Loser, But Facing Pressure
Asked about recent public exchanges between Salesforce CEO Mark Benioff and Karp, Ives said he does not view Salesforce as a loser.
He said Benioff can turn the company around and described him as a “Hall of Fame” and “Mount Rushmore” CEO, adding that Salesforce’s Agentforce initiative needs to pursue more acquisitions.
However, Ives said that for the first time in many years there is a threat to the traditional enterprise software business model. While he said it is not “code red,” he described Palantir’s rise as a “shot across the bow,” adding that the pressure extends beyond Salesforce to companies such as ServiceNow, Workday, and other traditional software providers.
Enterprise Expansion And AI Infrastructure Push
Ives said Palantir has only recently begun tapping into the enterprise and commercial market as adoption of its AI platforms expands.
Last week, the U.S. Department of Energy said Palantir is among a group of technology companies that have signed memorandums of understanding or expressed interest in collaborating on the Genesis Mission, a public-private initiative aimed at integrating AI with national laboratory supercomputing to accelerate scientific research.
Earlier this month, Palantir also announced a new software platform called Chain Reaction, designed to help coordinate the build-out of U.S. artificial intelligence infrastructure as rising data-centre demand strains power grids and computing hardware.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment was ‘bearish’ amid ‘high’ message volume.
One user said the stock could reach $200 by the end of the year.
Another user suggested the shares may remain near $190 this week before resuming an upward move.
Palantir’s stock has declined 0.1% so far in 2025.
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