Palantir Technologies stock was climbing Tuesday after the software company said it had secured authorization for its entire product suite to be used in processing sensitive federal workloads.Shares rose 7.

Palantir Technologies Inc. (NASDAQ:PLTR) disclosed that it has received FedRAMP High Authorization for its Palantir Federal Cloud Service (PFCS) and Palantir Federal Cloud Service – Supporting Services (PFCS-SS).

Palantir Technologies ( PLTR -1.03%) shareholders have been living the dream, as the stock soared 61% in November, according to data provided by S&P Global Market Intelligence.

Palantir Technologies stock (NASDAQ: PLTR) has had a solid run, rising by almost 4x since the beginning of the year to about $66 presently.

Artificial intelligence (AI) has defined the investment narrative of 2024, and Palantir Technologies Inc. (PLTR) has emerged as a massive beneficiary of this transformative trend thanks to its cutting-edge Artificial Intelligence Platform (AIP),

Today, Palantir has a market cap of $151 billion, which is close to cracking the top 100 largest companies in the world (Palantir currently sits at No. 104). After producing these huge gains, I think there are now better stocks you can invest in.

Palantir Technologies stock (NYSE: PLTR) has had a solid run, rising more than 3.5x since the beginning of the year to about $63 presently.

With this move, Palantir could soon join the Nasdaq 100 index. The move could result in more visibility for the stock. The stock's short interest has been rising of late, and that trend could continue.