Palantir Technologies recently reported stellar fourth-quarter financial results that propelled its market value to $230 billion. But some Wall Street analysts think Advanced Micro Devices (NASDAQ: AMD) and ServiceNow (NYSE: NOW) will surpass that figure in the next year,

Palantir Technologies reported strong revenue growth last quarter as the company that made its name providing software to the U.S. government said demand for its artificial intelligence products continues to expand.

Despite impressive profitability and sales growth, PLTR's stock valuation at 53.5x leading sales is frothy, necessitating a rating change to “Sell.” Read more here.

Shares of Palantir Technologies ( PLTR 26.31%) charged out of the gate on Tuesday, spiking as much as 27.7%. As of 10:59 a.m. ET, the stock was still up 25.4%.

Key Takeaways Palantir Technologies shares soared to an all-time high Tuesday, a day after the company's outlook blew past analysts' expectations on strong demand for its Artificial Intelligence Platform.

The AI-focused Palantir joins a group of less than 50 public American companies worth at least $200 billion, quite the turn of events for the government contractor worth less than $20 billion two years ago.

SoundHound AI develops voice AI systems for automotive, retail, and healthcare organizations. Palantir's market cap is now larger than iconic companies like Starbucks, Pfizer, and Citigroup. There are thousands of publicly traded stocks,