Palantir's (PLTR) second quarter results were in-line with Wall Street estimates. The company also announced a $1 billion stock buyback plan. However, RBC Capital Markets Software Equity Analyst Rishi Jaluria calls it a "battleground stock" with high interest from retail investors. Jaluria says the stock has had a massive run-up due to the AI hype, however he does not believe "Palantir is truly a generative AI company." "Palantir has some fantastic technology. This is a data pipeline company that can help you make a lot of sense out of your data, but it is not doing generative AI," Jaluria tells Yahoo Finance Live. On the stock's recent run higher, Jaluria explains in the video above why "the move in the stock, to me, is not justified by the actual underlying fundamentals."
