Palantir shares surged nearly 30% in a single session, propelling CEO Alex Karp to become one of the biggest gainers on Forbes’ real-time billionaire ranking. The rally followed strong quarterly results with second-quarter revenue of $1.94 billion, up 93% year-over-year, alongside an upward revision of full-year guidance. The stock moved from around $125-126 to near $163, recovering a significant portion of losses accumulated since the beginning of the year. Karp’s fortune remains almost entirely tied to Palantir shares, making his wealth highly sensitive to price swings, though analysts note a structural shift as commercial growth appears poised to potentially overtake government revenue as the company’s primary driver.
Source: Read the original article
