What Palantir offers is a new approach. By using AI to monitor, organize, and analyze an organization's data, Palantir's platform can see what no human can. What's more, organizations can implement processes based on real-time AI insights, which greatly enhances efficiency.

Palantir Technologies stock returned 240% in the past year, bringing its market value to $199 billion as of March 2. But certain Wall Street analysts think Shopify ( SHOP -4.84%) and Advanced Micro Devices ( AMD -1.63%) will top that figure within a year.

Shares of the data-analytics firm have tumbled on expectations that the Trump administration will cut defense spending.