Palantir Billionaire Peter Thiel Just Bought Shares of This AI Stock That’s Climbed 200,000% Since Its IPO -- And It’s His Top Position.
Thiel is known for his ability to spot a future winner.
Overview
Peter Thiel is the name behind two massive tech success stories, and he's also demonstrated his ability to identify a top tech business, even in that company's earliest days. The billionaire and venture capitalist is co-founder of PayPal and Palantir Technologies, and he was the first outside investor in Facebook, now known as Meta Platforms.
All of this makes him a great person to look to for investing inspiration, particularly in the field of technology. Thiel's fund, Thiel Macro, brought its investments to zero for two straight quarters -- the fourth quarter of last year and the first quarter of this year -- but in the most recent three-month period, he made a bold move. He picked up shares of an artificial intelligence (AI) player that's climbed 200,000% since its initial public offering and made it his No. 1 position.
Details
Now you might be wondering whether this stock, which has already soared over time, still has room to run. Thiel's proven ability to select winning companies should offer us confidence. Let's zoom in for a closer look.
Source
Originally published at www.fool.com.