Palantir (PLTR) stock is red hot to end the week, touching a new all-time intraday high of $85.22 on Jan. 31. This comes as investors anticipate its fourth-quarter earnings release on Monday, Feb. 3.

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.

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.