Palantir Technologies Inc. rallied as much as 21% in premarket trading Tuesday after giving a strong earnings forecast and saying that demand for its new artificial intelligence tool due this month is “without precedent.”
The company posted a surprise profit in the first quarter and expects to stay in the black for the rest of 2023, which would be its first profitable year. But much of Palantir’s focus Monday was on AI. During a video call with analysts, Chief Executive Officer Alex Karp said the data analysis company is “running hard” at AI technology, and that its strategy “is to just take the whole market.”
