Palantir Technologies ( PLTR -2.52%) had an explosive 2024, reporting its highest profit ever, joining the S&P 500, and seeing its shares surge 340%. But the stock may have farther to go, possibly this year but particularly over the long term.

Artificial intelligence has been a hot market throughout 2024. AI fueled the surge in share price for companies such as Nvidia, which saw its stock rise nearly 180% over the past year through Dec. 31.

Shares of SoundHound AI (SOUN) surged around 836% in 2024. The voice artificial intelligence (AI) technology leader benefitted from rising demand for its offerings and significant growth opportunities across key verticals such as automotive,

Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT) are two of the biggest rivals in tech. And today, they're both spending heavily on artificial intelligence (AI) as their rivalry evolves into yet another chapter.