We came across a bullish thesis on Palantir Technologies Inc. on Investment Ideas by Antonio’s Substack by Antonio Linares. In this article, we will summarize the bulls’ thesis on PLTR. Palantir Technologies Inc.’s share was trading at $157.35 as of January 28th. PLTR’s trailing and forward P/E were 384.79 and 166.67 respectively according to Yahoo Finance.
Palantir Technologies Inc. builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. PLTR is positioned as one of the clearest beneficiaries of the emerging bifurcation between AI “haves” and “have-nots,” driven by accelerating AI scaling laws and enterprise adoption. Despite already delivering multi-bagger returns, the company continues to compound value as it scales, defying conventional expectations that growth must decelerate at larger size.
Palantir’s core advantage lies in its ability to minimize time-to-value and maximize value delivered per dollar for customers, a dynamic that becomes more powerful as AI capabilities double roughly every six months. This acceleration is not constrained by technology but by human psychology, as many investors struggle to grasp the non-linear nature of AI-driven value creation.
The inflection point began with the launch of AIP and has since expanded with the emergence of AI-driven Forward Deployed Engineer equivalents, which materially enhance productivity for both Palantir and its customers. The Ontology sits at the center of this thesis: it is increasingly productized, extensible, and difficult to replicate, effectively positioning Palantir as the dominant platform for enabling AI in complex organizations. As Ontologies become interconnected across enterprises, Palantir is evolving from a software provider into a network, unlocking non-linear operating leverage similar to what has been observed in other successful platform businesses.
Free cash flow per share continues to rise, reinforcing the long-term investment case given its strong correlation with equity value over time. While valuation concerns persist, the bullish logic rests on several pillars: Palantir holds a de facto Ontology monopoly, enterprise AI adoption is still in its infancy, market penetration remains minimal, and growth is accelerating rather than slowing. Recent developments across government and commercial use cases further underscore that Palantir is on a trajectory to power not just companies, but entire supply chains, industries, and potentially nations, creating a compelling long-term risk-reward profile.
