Meta Platforms (NASDAQ: META) isn't a cheap stock anymore, at least on a dollars-per-share basis. Its stock price has reached over $700 per share, a range that many investors begin wondering if a stock split is imminent.

Last year was a big one for stock splits. Major companies from Walmart to Chipotle Mexican Grill launched such operations, and players in the market's hottest growth industry -- artificial intelligence (AI) -- got in on the movement too.

The artificial intelligence narrative has dominated Wall Street over the past two years, and for good reason. According to a report from Statista, the AI market is forecast to expand at a compounded annual growth rate of 27.

Investors generally love stock splits, and Palantir has developed a reputation for being especially friendly to individual investors. The stock has enjoyed a vocal following that has only grown louder as the share price has risen.

Tech defense juggernaut Palantir Technologies (NASDAQ: PLTR) has been a tour de force over the past 12 months. The company's shares have skyrocketed by a staggering 368% during this period, outpacing both the benchmark S&P 500 and artificial intelligence (AI) titan Nvidia.