Palantir Technologies Inc (NYSE:PLTR) is nearing a significant milestone after a stellar year-to-date with its market capitalisation approaching $100 billion.
It is currently valued at just shy of $97 billion. So, it would only require the data analytics group to repeat its feat of Wednesday (when the share price spiked 4%) to achieve this landmark.
It has been a quite remarkable nine months for investors in the Silicon Valley phenom, with the shares up 160% in that time.
Since Palantir's inclusion in the S&P 500 just under three weeks ago, the stock has advanced 14% as it has attracted tracker fund and ETF backing.
Its growth has propelled it to rank eighth among US software companies by market cap and twelfth globally.
Despite its success, analysts remain divided on its valuation, with concerns that it may be overbought.
Palantir's Foundry and the Artificial Intelligence Platform (AIP), are designed to help organisations integrate and analyse vast amounts of data.
Its primary customers include the US Department of Defense and intelligence services.