Palantir (NASDAQ:PLTR) had a topsy-turvy week, yet its upward trajectory remained largely unaffected by the AI chatter surrounding DeepSeek.

Palantir Technologies ( PLTR -4.48%) was one of the hottest artificial intelligence stocks on the market last year. Its 340% return in 2024 made it the single best-performing member of the S&P 500 ( ^GSPC -1.46%). However, Dan Ives at Wedbush Securities sees the stock moving even higher. And he recently gave shareholders two reasons to be thrilled:

The first time I ever heard about Palantir (Nasdaq: PLTR), several years ago, it was pitched to me as an “equity crowdfunding opportunity” to make a private investment, and a rare chance to buy into one of the hottest defense IT stocks on the planet before its IPO.