Palantir Technologies was the best-performing member of the S&P 500 ( ^GSPC 1.26%) in 2024. Its share price surged 340% last year as growing demand for its artificial intelligence platform excited investors. Palantir has grown into a $181.9 billion business, but I think semiconductor comany Arm Holdings ( ARM 10.05%) can top that figure in 2025.

Palantir Technologies has been one of the hottest stocks on the market over the past couple of years, clocking eye-popping gains of more than 1,100% as of this writing thanks to its accelerating growth that's being driven by the booming demand for artificial intelligence (AI) enterprise software.

The Nasdaq is home to many of the best growth stocks in the world. But to join the Nasdaq 100 index is particularly exclusive, since as the name implies, it contains the top 100 (nonfinancial) stocks on the exchange.

Palantir (NASDAQ: PLTR) was one of the best-performing stocks of 2024. The analytics and software management platform for government agencies, the military, and big business soared 340% for the year and sports a market cap of $167 billion as of this writing.

Palantir Technologies (PLTR) stock is extending its pullback from all-time highs after its Nasdaq-100 (NDX) debut

That's more than double peak software-as-a-service (SaaS) multiples from a few years ago when SaaS stocks were growing in the mid-30% range. Meanwhile, Palantir executives, including its CEO, chairman,