Benzinga - DA Davidson initiated coverage on Palantir Technologies (NYSE:PLTR) Wednesday morning — or did they? The entire note was written by ChatGPT. The analyst firm just simply fact checked it.
What To Know: DA Davidson initiated Palantir with a Neutral rating and set an $8 price target, citing the company's strong intellectual property and mission-driven focus, however the firm noted that said focus may limit its opportunity and earnings visibility.
Here's where it gets really interesting. The Microsoft Corp (NASDAQ: MSFT)-backed artificial intelligence software model said it expects "generative AI and more off-the-shelf solutions to capture more growth."
Yeah, that's right. AI has made a prediction that Palantir will face increasing competition from AI.
The note indicates that competing solutions from Dataiku, Scale.ai and Datarobot can perform some machine-learning predictive tasks at a more manageable scale, making their solutions easier for enterprise customers to adopt.
Jim Cramer featured the call in his Mad Dash segment Wednesday morning on CNBC's "Squawk On The Street."
"This was written by ChatGPT and fact checked by DA Davidson. It's finally happened. This is not written by a human," Cramer said in awe.
He noted that the report was very well-written and if one didn't know it was generated by a machine, it would pass as human-written work.
"This machine is thoughtful ... [it's] better than we are," Cramer said.
CNBC's David Faber added: "It's amazing."
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The Implications: After reading the report, Cramer became all the more bullish on Nvidia (NASDAQ: NVDA).
"Go buy Nvidia because they have the only machines that can do it," Cramer said.
Cramer noted that Nvidia's H100 is what powers AI. He told viewers that he previously asked the chip giant about the level of demand it was seeing for the H100.
"They said 'well, we're never going to be able to meet the demand,'" Cramer said.
CNBC's Carl Quintanilla chimed in on the conversation and noted that earlier in the week, BofA said it planned to generate more data in a two-day period than "all of the data from the dawn of humanity to the year 2000."
Cramer said: "Should we be worried?"
Faber exclaimed: "Of course we should be worried."
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