With shares up more than 333% over the last 12 months, Palantir Technologies (NASDAQ: PLTR) has been a massive beneficiary of generative artificial intelligence (AI), which many believe could revolutionize how people use and interact with big data.

Palantir consistently positions itself as a leader in enterprise-level artificial intelligence. It has also secured strong federal contracts while also benefiting from robust defense spending. One has to assume that the current administration should be net favorable for PLTR stock, making it a worthwhile opportunity.

Palantir also continues to introduce new products, including a visual navigation AI that can guide autonomous drones in areas without GPS. As a business, Palantir looks solid. It has an impressive set of competitive advantages, given its focus on defense tech and experience in data mining and analytics.

Palantir would need to grow into a $6.7 trillion market cap to turn a $25,000 investment into $1 million. This would be its valuation if it grew to 40 times its size today. There isn't even a $4 trillion stock on the market today but in 20 or 30 years, it may be much more common to see stocks trading at these types of valuations.

It has been quite the roller-coaster ride for Palantir (NASDAQ: PLTR) shareholders in the past few years. Palantir is a software and services provider of AI tools to the government, military, and big business.