Palantir surged 16.3% in premarket trading on Tuesday after reporting blowout quarterly earnings driven by strong demand for its AI sovereignty tools. The enterprise software company posted 93% growth in total revenue to $1.94 billion, beating LSEG estimates of $1.8 billion. Commercial revenue jumped 149% to $764 million, while government revenue grew 90% to $809 million. CEO Alex Karp described the quarter as « otherworldly, » citing the AI sovereignty revolution as the key growth driver. Companies are increasingly seeking to keep their data private from major AI labs like OpenAI, Google and Anthropic, fueling demand for Palantir’s solutions.
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