I believe AI applications could capture the next wave of value, while infrastructure remains essential. Chips provide computing power, but software turns that power into measurable business results.
Palantir stands out by connecting proprietary data, security, and operational decisions. Once embedded in critical workflows, its software may become difficult to replace. However, competition and implementation costs remain risks.
My biggest concern is valuation. A great company is not automatically a great investment. Even strong growth cannot guarantee attractive returns if investors pay too much upfront.
I'd focus on commercial revenue growth, customer expansion, and free cash flow rather than analyst price targets.
Ultimately, infrastructure enables the AI revolution, but applications monetize it. The real winners will be companies that convert AI spending into sustainable profits—not simply those with the most exciting stories.
@Capital_Insights [财迷]
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