Shares of Palantir Technologies (NYSE:PLTR) jumped more than 27% on Monday in after-hours trading following the company’s first-quarter earnings results that beat analysts’ estimates.
The Palantir stock also soared amid the firm’s profit projections based on its new Artificial Intelligence (AI) powered platform. With the AI narrative also particularly strong in the cryptocurrency space, it is likely Palantir’s strong outlook for its new AI product will similarly work for AltSignals (ASI).
AltSignals, a leading trading signals company, is also introducing an AI-powered layer. The native token ASI is in presale, which one can join here.
Why Palantir’s AI projections could be good news for AltSignals
In its earnings report Monday, Palantir said it expects to remain profitable in 2023 after its Q1 revenue rose 18% year over year. Company CEO Alex Karp said in a shareholder letter that the software provider expects revenue of between $528 million and $532 million in Q2 and $2.19 billion to $2.24 billion for the year.
But it’s the demand for the company’s new AI platform that has caught investor attention. Karp said the demand and interest from potential customers for the product is “without precedent.” Available to some customers starting this month, Palantir’s AI layer allows customers across commercial and government sectors to leverage large language models.
Known for its contracts with government agencies, the AI integration will be crucial for such operations such as military intelligence and decision-making. Confidence in artificial intelligence from mainstream companies like Palantir is a strong indicator of how other platforms offering industry-defining products could grow.
Palantir stock price outlook
PLTR looks a strong buy, one of the meme stocks that has an actual growth trajectory behind it.
Palantir does not just offer investors exposure to an investment related to cybersecurity and military contracts. It does have a growing integration that makes it a good bet for exposure in the blockchain technology market.
AI and big data could also see PLTR potentially become one of the best AI stocks. The suggestion is that the current price of $7.74 for the PLTR stock could be a massive bargain today.
What’s AltSignals and ActualizeAI?
AltSignals is a trading signals company that launched to the public in 2017. The platform currently offers trading alerts and analysis indicators via its AltAlgo service, covering the cryptocurrency, stocks and forex markets. Users can also access trading information on CFDs.
The platform seeks to improve its signals via AI, machine learning and natural language processing. Although AltAlgo is an already successful product, ActualizeAI enhances its capabilities through new AI inputs – giving users access to signals with increased accuracy levels.
ASI is a token that will power the AltSignals AI ecosystem. Holders will have access to all the trading signals as well as be able to trade and store $ASI tokens in their own wallets. Access to the members club also comes with other benefits such as participation in trading tournaments or contributing to platform development for rewards and other earn opportunities.
Investors have a chance to buy ASI tokens low during the ongoing presale. The AltSignals website provides a step-by-step guide on how to buy ASI. This includes connecting to a supported wallet, buying and claiming tokens.
Should you buy AltSignals (ASI) token today?
As highlighted above, software company Palantir has big projections for its revenue growth placed on the success of its artificial intelligence platform. The demand seen with this company’s model suggests AltSignals’s upcoming ActualizeAI layer could be hitting the market in the midst of even greater demand for AI tools.
That’s why AltSignals and what the team is building with ActualizeAI sits well with investors currently putting money into its token sale. At current prices of $0.015, the ASI token could be very cheap. The price will rise during the presale phase to $0.02274 and likely explode when the AI platform goes live later in the quarter.
Listing the token on major exchanges, as seen with Pepe (PEPE) and Floki Inu (FLOKI) recently, could ignite fresh buying pressure and see ASI trade towards targets such as $0.5 and $1 in 2023 or early 2024. Artificial intelligence related cryptocurrencies have also been on a tear year-to-date to suggest a new bull cycle could catapult prices to new highs.
A great way to look at why invest in ASI is from the perspective of AltSignals. We can gauge the growth potential for this company from its growing community and the huge anticipation around its artificial intelligence powered layer ActualizeAI.
While the imminent launch of the token could come with renewed demand, it’s the sustainability that could come with having a robust market and user community that will catalyse future gains for ASI.
Interested in ASI? Join the presale.
The post Palantir (PLTR) stock soars on AI bet- Is AltSignals (ASI) the token to buy? appeared first on Invezz.