The share rallies in CoreWeave (CRWV) and Palantir (PLTR) are drawing comparisons to meme stocks, Ryan Vlastelica of Bloomberg reports. Both stocks are among this year’s best performers amid a resurgence of the artificial intelligence trade as large tech companies continue to spend heavily on computing infrastructure, according to Bloomberg. However, in contrast to meme stock GameStop (GME), CoreWeave and Palantir are benefiting from strong demand for their services, the news site adds. “The problem is whether investors are over-paying for that growth,” writes Vlastelica, who notes Palantir trades at 71 times estimated sales, making it by far the most expensive stock in the S&P 500, while CoreWeave is priced at 10 times projected sales.
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