What Happened?
Shares of data analytics company Palantir Technologies (NASDAQ: PLTR) jumped 2.9% in the afternoon session after the company announced a partnership with UK defense tech firm Hadean to bring simulation and AI products to the UK Armed Forces.
Under the new agreement, Hadean's wargaming, command and control, and battlefield training products will be deployed on Palantir's Foundry software, allowing for seamless integration with the existing Ministry of Defence data systems. This development adds to a backdrop of strong performance for the AI systems provider, which has seen soaring growth in both its government and commercial businesses. In its most recent quarter, Palantir's U.S. commercial revenue surged 93% year-over-year, while U.S. government revenue grew 53%. The company's Artificial Intelligence Platform (AIP) has been a key driver, helping customers integrate data to improve decision-making and fueling a significant increase in large contracts.
After the initial pop the shares cooled down to $165.60, up 2% from previous close.
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What Is The Market Telling Us
Palantir Technologies’s shares are extremely volatile and have had 44 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 1 day ago when the stock gained 3.7% as positive momentum continued following its recent AIPCon customer conference and the announcement of expanded business partnerships.
The data-analytics firm, which hosted the conference during the week, announced a five-year expansion of its partnership with automotive supplier Lear Corporation to deepen the use of AI in manufacturing. Additionally, Palantir revealed a new collaboration with Lumen Technologies. This news builds on a period of strong performance, with the stock having more than doubled year-to-date. The company's growth is largely attributed to its AI platforms, which drove a 93% increase in its U.S. commercial revenue in the second quarter, highlighting its successful expansion into the private sector.
Palantir Technologies is up 120% since the beginning of the year, but at $165.60 per share, it is still trading 11.4% below its 52-week high of $186.97 from August 2025. Investors who bought $1,000 worth of Palantir Technologies’s shares at the IPO in September 2020 would now be looking at an investment worth $17,432.
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