Palantir just had one of its best days ever on the stock market. Shares jumped almost 30% after the company posted way better earnings than anyone expected, and honestly, even the CEO seemed shocked by the numbers himself.
The company’s revenue for the quarter came in at $1.94 billion, way above what analysts were expecting. What really stood out though was the growth in the U.S. commercial side of the business, which jumped a massive 149% compared to last year. CEO Alex Karp called the whole quarter “otherworldly” and said demand for what he calls “AI sovereignty” is driving all this growth.
Basically, more and more companies want to use AI tools without handing all their data over to big AI labs, and Palantir’s whole business is built around helping them do exactly that securely. That pitch seems to be working really well right now, since Palantir also raised its guidance for the rest of the year, now expecting more than $8 billion in revenue for 2026.
This surge also gave a nice personal boost to Karp himself, whose net worth reportedly jumped by billions in just a single day thanks to the stock’s performance. Analysts are saying this quarter basically shut down a lot of the doubts people had about Palantir’s growth slowing down.
(Sources: CNBC, Forbes, Yahoo Finance)
