Palantir's Shares Rise on Record Revenue and Robust AI Demand

Palantir Technologies' stock experienced a 2% increase in after-hours trading following its impressive second-quarter earnings report, which exceeded Wall Street expectations and forecasted even stronger growth ahead. The company reported a record-breaking quarterly revenue of $1 billion, marking a 48% year-over-year increase—the first time Palantir has surpassed this milestone. This achievement extends an ongoing trend, with revenue growth accelerating for the eighth consecutive quarter, and management anticipates continued momentum, projecting around 50% growth in the upcoming quarter. CEO Alex Karp highlighted the remarkable impact of artificial intelligence advancements, describing the latest financial results as "bombastic." U.S. commercial revenue surged by 93% to $306 million, while U.S. government revenue grew 53% to $426 million, culminating in a total U.S. revenue of $733 million—up 68%. The strong performance is largely driven by demand for Palantir's AI platform, supported by strategic partnerships with TeleTracking Technologies, TWG Global, and GE Aerospace. Enterprise clients report tangible benefits from Palantir's Ontology technology, which enables effective data ...