The shares gained about 3.5% in extended trading after closing at US$160.66 in New York. Denver-based Palantir has seen its stock price surge more than 500% over the past year — buoyed by high expectations from investors, growth in demand for AI tools, and a deep reach into both the private and public sectors.
Palantir Technologies reported a 48% increase in revenue for the second quarter to more than US$1 billion ($1.29 billion), citing the “astonishing impact” of artificial intelligence technology on its business.
The data software company also raised its revenue outlook for the full year to a range of US$4.14 billion to US$4.15 billion, exceeding analysts’ prior expectation of US$3.91 billion.
