We recently compiled a list of the Why These 10 Stocks Are Skyrocketing. In this article, we are going to take a look at where Palantir Technologies Inc. (NASDAQ:PLTR) stands against the other stocks that are skyrocketing.

Wall Street saw a quiet trading session this week amid the lack of major catalysts to perk up the market. Despite an overall thin trading volume, 10 companies managed to outperform and mirror gains of all major indices.

To come up with the Top 10 Gainers this week, we focused on stocks that have at least $2 billion in market capitalization and $5 million in daily trading volume.

Let’s take a look at Palantir Technologies Inc. (NASDAQ:PLTR) and how it has performed so far.

A software engineer intently typing code into a laptop with multiple screens in an office.

Palantir Technologies Inc. (NASDAQ:PLTR)

Shares of Palantir Technologies (NASDAQ:PLTR) rose by 2.1 percent in the first two trading days of the week, finishing at $82.38 each. Like other semiconductor companies, Palantir (PLTR) has become one of the favorite technologies to hunt for, as investors place their bets on its ability to benefit from the booming AI.

In addition, the company last week announced that it has renewed a $618.9-million partnership with the US Army to deliver the Army Vantage capability in support of the Army Data Platform (ADP), which powers warfighters at every echelon and supports a diverse set of use cases across every data domain.

Overall, PLTR ranks 8th on our list of stocks that are skyrocketing. While we acknowledge the potential of PLTR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PLTR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.