What's Going On With Palantir Stock Setting New 52-Week High?

Palantir Technologies, Inc. PLTR shares are trading higher Monday, and the stock set a new 52-week high of $21.50. 

What To Know:

Investors are showing increased interest in AI-related stocks following a weekend full of stunning corporate developments out of OpenAI and Microsoft Corporation MSFT.

The OpenAI board of directors removed Sam Altman from his position as CEO in a surprise move on Saturday, and by late Sunday night, it was announced that Altman will be joining Microsoft's new advanced artificial intelligence team.

Greg Brockman, former president of OpenAI, will also be joining the new AI division at Microsoft. OpenAI announced it has hired former Twitch CEO Emmett Shear as interim-CEO.

Palantir shares are up by more than 33% over the last month and continue to trade near the new 52-week high set earlier in the session.

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PLTR Price Action: According to Benzinga Pro, Palantir Technologies shares are up by 4.8% at $21.48 at the time of publication.

Image: Mohamed Hassan from Pixabay