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C3.ai's revenue just accelerated for the sixth consecutive quarter, thanks to a shift in the company's strategy combined with surging demand for artificial intelligence.

That massive gain was largely driven by the rapid expansion of the artificial intelligence (AI) market, which drove many companies to ramp up their purchases of the company's data center graphics processing units (GPUs) to process complex machine learning and AI applications.

Palantir may face tough competition in the software space from this AI titan that made its name selling AI hardware.

There's no question that artificial intelligence (AI) stocks have led the charge in the current bull market, but in recent months, that leadership seems to be fading. Some investors even see a potential AI bubble emerging as valuations have arguably gotten ahead of business growth.