By Jaspreet Singh and Juby Babu <\/p>\n
Aug 3 (Reuters) – Palantir Technologies on Monday raised its annual revenue forecast again, signaling strong government and commercial demand for its data analytics software, sending \u200cits shares up 14% in extended trading. <\/p>\n
Denver-based Palantir has increasingly been marketing military-grade AI tools to \u200cbusinesses through its artificial intelligence platform that helps companies integrate and develop the technology. <\/p>\n
“Our business is compounding at a rate and \u200bscale that we have never before witnessed,” Palantir CEO Alex Karp said in a letter to shareholders. <\/p>\n
The company, which enables government and enterprise clients to make decisions using their own data, forecast annual revenue between $8.150 billion and $8.158 billion, up from $7.650 billion to $7.662 billion earlier. <\/p>\n
“Palantir has been the clearest counterexample to the claim that enterprise AI doesn’t \u200cscale past pilots, and accelerating growth makes \u2060that harder to argue with,” Emarketer analyst Jacob Bourne said. <\/p>\n
Palantir’s U.S. government revenue soared 90% to $809 million in the second quarter. Modern warfare and geopolitical uncertainty have prompted \u2060governments to invest in advanced defense technologies such as Palantir’s AI-powered battlefield software and Anduril’s autonomous drones. <\/p>\n
Anduril and Palantir are working together to develop software for U.S. President Donald Trump’s Golden Dome antimissile shield initiative, Reuters has reported. <\/p>\n
It \u200balso \u200braised its annual forecast for U.S. commercial revenue to more \u200bthan $3.424 billion, up from its previous estimate \u200cof $3.224 billion. <\/p>\n
“The core of our business, in the United States, continues to expand at an unrelenting and breakneck pace,” Karp said. <\/p>\n
The company’s U.S. business has been particularly tracked as European governments have grown increasingly wary about dependency on American tech platforms, while competition intensifies from AI startups. <\/p>\n
France’s domestic intelligence agency DGSI will replace tools from Palantir in favor of French rival ChapsVision, Prime Minister Sebastien Lecornu’s office said in June. The company \u200cis also challenging a decision to block its two-year, \u00a350 million ($67.15 \u200bmillion) contract with the London police. <\/p>\n
Its “accelerated growth in the U.S. \u200bmarket is more important, more durable, and more \u200blikely to drive the name higher,” said Ryan Lee, senior vice president of product \u200cand strategy at Direxion. <\/p>\n
Palantir’s shares have retreated sharply \u200bfrom their November record \u200bhigh, as investors have worried over the increasing scrutiny of the company’s businesses and the still-high valuation. <\/p>\n","protected":false},"excerpt":{"rendered":"By Jaspreet Singh and Juby Babu Aug 3 (Reuters) – Palantir Technologies on Monday raised its annual revenue…\n","protected":false},"author":3,"featured_media":979555,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21],"tags":[691,65774,95037,738,393073,1599,58,158,67,132,68],"class_list":["post-979554","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-alex-karp","tag-annual-revenue","tag-artificial-intelligence","tag-data-analytics-software","tag-forecast","tag-palantir-technologies","tag-technology","tag-united-states","tag-unitedstates","tag-us"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/117035914175150023","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/979554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=979554"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/979554\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/979555"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=979554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=979554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=979554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}