Valued at a market cap of $292 billion, Palantir (PLTR) is among the largest tech companies in the world. PLTR stock has surged close to 500% in the last 12 months and has rallied over 1,200% since its initial public offering in September 2020.

What Happened? Shares of data-mining and analytics company Palantir (NYSE:PLTR) jumped 5.7% in the afternoon session after the New York Times reported on the company's expanded contracts with the US government,

Palantir (NASDAQ: PLTR) has rapidly become one of the most popular artificial intelligence (AI) stocks in the market. Few stocks will ever match that sort of jaw-dropping performance, but now, many investors are wondering if it's too late to buy Palantir.