Reported 21 days ago
Palantir Technologies has raised its 2024 revenue forecast for the third time, expecting between $2.805 billion and $2.809 billion, driven by strong government spending and increasing business demand for AI services. The company's shares jumped approximately 13% after the announcement, contributing to a 140% rise in stock price this year. Significant growth in U.S. government revenue and expectations for its commercial segment to surpass government contracts next year reflect a shift in market dynamics as businesses quickly adopt Palantir's AI tools.
Source: YAHOO