Palantir Jumps Most Since 2020 on First Annual Profit, AI Demand
- CEO Karp sees “onslaught” of AI interest from customers
- Sales to US-based businesses climbed in the fourth quarter
Palantir offices in Palo Alto, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Palantir Technologies Inc. shares soared by 31% on Tuesday after the company reported big demand for its artificial intelligence technology and gave a higher-than-expected profit outlook for 2024.
The Denver-based software and analysis company said it expects adjusted income from operations of $834 million to $850 million for this year. Analysts, on average, had expected $760.3 million, according to estimates compiled by Bloomberg.