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Investors Flock to AI Stocks CoreWeave and Palantir Amid Meme-Stock Frenzy Warnings
Investors Flock to AI Stocks CoreWeave and Palantir Amid Meme-Stock Frenzy Warnings
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CoreWeave and Palantir (PLTR) are riding an AI-driven surge that mirrors the speculative frenzy of meme stocks, Bloomberg reports. CoreWeave has nearly quadrupled since its March IPO, while Palantir boasts a 460% annual gain. Interactive Brokers'' Steve Sosnick cautions that fundamentals are being ignored, warning of a potential ''substantial snapback.''
Both companies benefit from soaring AI demand—CoreWeave as a cloud-computing provider for Microsoft (MSFT), and Palantir through government contracts and data analytics tools. Revenue projections are robust, but valuations raise eyebrows: Palantir trades at 71x sales, the highest in the S&P 500.
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