According to Alpha Analyst, that shift may already be underway. The investor notes that institutional investors were largely sidelined during Palantir's IPO due to structural limitations, such as the dual-class voting shares favoring CEO Alex Karp. Combined with the stock's rapid run-up, these factors initially tempered institutional appetite. However, as the company matures and demand for AI-driven platforms continues to climb, Alpha Analyst believes that more institutions will begin building positions, providing a potential second wave of momentum for the stock.