Palantir surges over 23% on outlook fueled by ‘untamed’ AI demand
Published On Feb 3, 2025, 6:46 PM
Palantir Technologies Inc. saw its stock surge over 23% after announcing a robust revenue outlook for 2025, predicting about $3.75 billion in sales, exceeding analysts' expectations of $3.54 billion. The CEO attributed this growth to a surge in demand for AI software, which Palantir has integrated across various sectors, including defense. The company also reported a 36% increase in fourth-quarter revenue, driven by significant sales boosts from government and commercial sectors.
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Palantir's strong revenue forecast, driven by AI demand and government contracts, positions it for continued growth. This could attract more investors looking for tech-focused growth stocks in the defense and AI sectors.
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Businesses pushing to deploy the most sophisticated generative artificial intelligence tech have helped drive sales for Palantir's AI platform, AIP, which is used to test, debug code and evaluate AI-related scenarios. Revenue is being driven by both new customers and the expansion of those customers with AIP, Palantir's Chief Revenue Officer Ryan Taylor told Reuters. Chinese startup DeepSeek's AI models that it claimed can match or even outperform Western rivals at a fraction of the cost had stirred doubts about the United States' lead in the technology and the high costs of GenAI development.