Palantir soars 27% to record high as AI powers strong earnings and guidance

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Palantir surged more than 27% on Tuesday to a record high after reporting stronger-than-expected fourth-quarter results and guidance driven by ongoing artificial intelligence gains. The Denver-based software company posted adjusted earnings of 14 cents per share and $828 million in revenue. That topped the 11 cents per share and revenues of $776 million expected by analysts polled by LSEG. The software company has been on a record run, surging 340% in 2024 as its AI platform gained traction amid ongoing investor excitement around the technology trend. In a letter to shareholders, CEO and co-founder Alex Karp called the momentum within its commercial and government segments "unlike anything that has come before."

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