Why Palantir Stock Skyrocketed This Past Week
CEO Alex Karp said the AI titan delivered an "otherworldly" performance in the second quarter.
Overview
Shares of Palantir Technologies (NASDAQ: PLTR) rose nearly 40% last week after the data analytics leader reported stunning artificial intelligence (AI)-fueled growth metrics.
Image source: The Motley Fool.
Palantir's second-quarter revenue soared 93% year over year to $1.9 billion. The gains were driven by a 90% jump in U.S. government revenue to $809 million and a 149% surge in U.S. commercial revenue to $764 million.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.