NEW YORK — Palantir Technologies shares surged in premarket trading on Tuesday after the data analytics and artificial intelligence software company reported stronger-than-expected quarterly results and raised its full-year revenue forecast, buoyed by continued demand for its AI-driven products.
The stock climbed about 16% before the opening bell after Palantir reported second-quarter revenue of approximately $1.94 billion, nearly doubling from a year earlier and exceeding Wall Street expectations. The company also posted earnings above analysts' estimates and increased its 2026 revenue outlook to more than $8.15 billion, up from its previous forecast.
Palantir said growth was led by its U.S. commercial business, where demand for AI software remained strong as companies expanded deployments of its platforms. The company also reported robust government business performance, reflecting continued adoption of its software by public-sector customers.
Chief Executive Alex Karp said in the company's earnings release and conference call that demand for what Palantir describes as "sovereign AI" continued to accelerate, highlighting customer interest in deploying artificial intelligence systems while retaining control over their data and models.
The earnings helped lift sentiment across AI-related stocks, with investors extending gains following a series of strong technology-sector results. U.S. stock index futures also moved higher ahead of the opening bell as markets digested the latest corporate earnings reports.
Palantir released its quarterly results after the close of U.S. markets on Monday. Investors continued to assess the company's updated outlook and broader implications for AI-related spending as trading progressed on Tuesday.
