More broadly, Wall Street is thinking along the same lines. Palantir's median target price of $96 per share implies 18% downside, and Amazon's median target price of $270 per share implies 17% upside. Here's what investors should know about these AI stocks.

Palantir Technologies continues to surge, fueled by its AI platform, and saw its stock rise by 49%. Analysts, particularly Dan Ives from Wedbush Securities, predict Palantir could reach a $1 trillion market cap in two to three years.

Palantir (NASDAQ:PLTR) stock continues its bull run, buoyed by yet another vigorous earnings report that reflected growing revenues, profits,