March 3rd, 2025 | 07:10 CET
Super Micro Computer, naoo, Palantir – Competing for the Tech future with artificial intelligence
While tech giants like Alphabet and Microsoft are making headlines in January with investment announcements of over USD 300 billion in data centers, innovative companies are pushing their way into niche markets in the shadow of these corporations. Driven by artificial intelligence and disruptive business models, they reflect the ambivalence of today's tech markets, which are characterized by rapid growth but also extreme price fluctuations. Three companies stand out – Super Micro Computer is taking advantage of the hype surrounding AI servers, Naoo is revolutionizing social media through gamification and by linking with local retailers, and Palantir is dominating data-driven decision-making. What do they have in common? They have created a moat for themselves through innovation and could thus be the winners of the upcoming tech era.
time to read: 5 minutes
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Author:
Armin Schulz
ISIN:
SUPER MICRO COMPUT.DL-_01 | US86800U1043 , NAOO AG | CH1323306329 , PALANTIR TECHNOLOGIES INC | US69608A1088
Table of contents:
"[...] In Canada, there is $1.75 of debt for every dollar of disposable income - and that was true even before the pandemic. [...]" Karim Nanji, CEO, Marble Financial
Author
Armin Schulz
Born in Mönchengladbach, he studied business administration in the Netherlands. In the course of his studies he came into contact with the stock exchange for the first time. He has more than 25 years of experience in stock market business.
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Super Micro Computer – Annual report filed on time
Super Micro Computer (SMCI) came under market scrutiny after an investigation exonerated the Company of manipulation allegations, and the NASDAQ granted an extension to file its annual report. Thanks to the strengthened confidence of institutional investors, the share price briefly shot up from USD 30 to USD 60 but fell again after the resubmission of relevant documents. Despite these fluctuations, SMCI remains attractive to investors, as the share price is trading well below previous highs. A solid balance sheet and increasing demand for data center infrastructure support potential share price increases. Nevertheless, the market remains tense, which opens up opportunities.
Major tech companies such as Alphabet, Amazon, Microsoft, and Meta are planning enormous investments in their data center capacities, which together could total up to USD 300 billion. SMCI benefits from its Direct-Liquid-Cooling technology, which, according to CEO Charles Liang, could soon be used in over 30% of new data centers, and from the ongoing AI boom. The Company is forecasting revenues of up to USD 25 billion for the 2025 fiscal year and as much as USD 40 billion for 2026 – a substantial increase of around 60% and 66% compared to the previous year. This momentum could establish SMCI as a key player in the server market.
However, the strong competition from Dell, IBM, and HP poses a potential threat. These companies are able to bundle their hardware and software solutions and thus offer a comprehensive service package. The latest accounting scandal also shows that further irregularities could quickly shake confidence. Nevertheless, profit margins are benefiting from high demand, so SMCI still has financial leeway for technological advances. Given the projected growth and relatively favorable valuation, the stock offers interesting opportunities for investors willing to take risks. Currently, a share costs USD 41.46.
naoo – The future of the social media market
The Swiss company naoo is setting new standards in the social media sector with a clever combination of gamification, AI, and a link to local retailers. During the fourth quarter, downloads increased by 65% compared to the third quarter, while interactions such as comments and likes increased by 117%. With over 90,000 users in Switzerland and a user retention rate among the top 10% of all social media apps, the platform is positioning itself as an attractive alternative to established giants. The app recently reached number 3 in the Swiss charts and delights users with features such as the opportunity to meet new people, discover relevant content, a secure messenger, and rewards for geo-based challenges, for example, that translate online engagement into real-world store visits. These rewards can eventually be converted into gift vouchers.
naoo impresses with its unique combination of digital and physical experiences. Geo-based games such as the "Golden Egg" treasure hunt not only generate virality but also increase customer traffic at partner retailers – a win-win situation. The advertising campaigns on the platform achieve click rates up to five times higher than industry benchmarks, highlighting its attractiveness to advertising companies. In contrast to other social media competitors, naoo relies on scalable AI solutions that can be adapted locally without diluting the user experience. With the goal of reaching 19 million users by the end of 2029 and a market capitalization of around EUR 46.5 million, the Swiss company could become a European leader in hybrid retail engagement.
At the end of January, the Company secured fresh capital of EUR 25 million, provided by GEM Global Yield, and is thus ideally positioned for its expansion course. The funds will be used to further develop the AI algorithm "naoo Sense", which, according to tests, delivers eight times more relevant content than comparable systems, as well as for global scaling. The technology is to be rolled out in Q2. Another milestone was the full Android app rollout in February 2025. In Germany, a key market with 70% Android usage, the full functionality is now available, which should accelerate growth in the DACH region. The stock, which is currently only traded in Düsseldorf, has been very volatile in 2025 and shot up from EUR 7.80 to as high as EUR 34. Since then, the stock has been consolidating and is currently trading at EUR 11.40.
Palantir – Caught between dynamic growth and valuation risks
Palantir has recently delivered convincing and robust figures. Revenue in 2024 rose 38% year-on-year, driven by a 54% increase in the commercial segment. Although the Company remains highly dependent on government contracts (USD 1.2 billion), it is making progress in diversifying. International expansion drove total revenue to almost USD 3 billion. With a Rule of 40 ratio of 68% and a customer base that grew by 43%, Palantir demonstrates scalability. The adjusted free cash flow margin of 44% underscores profitability – a key factor for the upgrade back to "Buy".
Palantir's Gotham and Foundry platforms set the standard for data-driven decision-making. The highly customized software solution "AIP" enables customers such as Rio Tinto and Panasonic to achieve more efficient processes, from supply chain optimization to AI integration. CEO Alex Karp is confident in his solution: "We believe we are making America deadlier". Thanks to fixed development costs, margins increase with each additional customer – a structural advantage. Over USD 130 million in deals in the last quarter and a doubling of the contract pipeline to USD 1.79 billion signal sustainability. Testimonials demonstrate the transformative effect, which supports long-term customer loyalty and upselling potential.
Despite the successes, the valuation remains tricky: With a very high price-earnings ratio and price-sales ratio, the share is well above historical tech benchmarks. Insider sales, including CEO Alex Karp's USD 1.2 billion, are causing uncertainty among investors. Even with 30% annual earnings growth, it would take years to alleviate today's valuation multiples. Palantir remains a polarizing growth stock. The operating performance is convincing, but the share price already reflects unrealistic expectations. The stock has recently lost around 37% from its high and is currently trading at USD 78.86.
The tech industry remains a game of innovation and volatility – the three companies are prime examples of this. Super Micro Computer is a niche provider benefiting from the boom in data centers and AI, but is struggling with fierce competition and past scandals. naoo is a pioneer in combining social media with physical retail, thus opening up completely new perspectives. Palantir shines operationally with innovative data platforms and profitability, but is facing the challenge of justifying its astronomical valuation. For investors: Those who can withstand tech cycles and price fluctuations may find long-term winners here.
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