
Why Skills-First Leadership Is Replacing the Ivy League Playbook in the C-Suite
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
August 2, 2023: On Monday, Palantir goods increased as the firm depends on the A.I. trend.
Palantir, a data analytics firm best known for its work with the U.S. government’s defense and intelligence agencies, offers several AI-powered services for organizations across the public and private sectors. CEO Alex Karp stated in the company’s first-quarter earnings that demand for Palantir’s latest artificial intelligence platform is “without precedent,” and shares of the company are up more than 205% year to date.
Wedbush Securities issued an outperform rating and a $25 price target on the stock Friday. Palantir is currently trading at around $19 per share.
“We believe PLTR will capitalize on the expansion of new use cases over the next 6-12 months, given its large partner ecosystem and extensive product capabilities, by servicing the rapidly increasing demand for enterprise-scale generative artificial intelligence,” Wedbush analysts wrote in the note.
Karp acknowledged the frenzy around A.I. and the risks posed by the technology in an opinion piece in The New York Times Tuesday. He called for increased collaboration between the government and the tech sector. He wrote that attention should be “urgently directed at building the technical architecture and regulatory framework that would construct moats and guardrails around A.I.”
Karp argued against the slowdown in research and innovation that many tech leaders called for, and he warned that if the U.S. does not invest in A.I., other nations will.
“This is an arms ethnicity of a different kind, and it has begun,” Karp wrote. Later, he added, “The ability of free and democratic societies to prevail requires something more than moral appeal. It requires hard power, and hard power in this century will be built on software.”
Analysts at William Blair also raised their second-quarter revenue estimates for Palantir to $551 million from $529 million Monday, writing in a note that the company will likely experience a pull-forward from its SPAC customers that have declared bankruptcy.
The analysts expressed SPACs had a “significant positive impact on first-quarter earnings relative to consensus,” and they expect that to continue in the next quarter.
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The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
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