Palantir books its first $1 billion in quarterly sales and dodges DOGE axe (apnews.com)

submitted 1 week ago by IndustryStandard@lemmy.world to c/technology@lemmy.ml

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NEW YORK (AP) — Shares of Palantir Technologies sailed past previous record highs Tuesday after booking its first $1 billion sales quarter and raising its performance expectations for the year.

The stock rose above $170 Tuesday after breaking previous records four times this year in the global artificial intelligence race. The previous closing high for the stock was set this week at $160.66.

Since going public in 2020 when it posted a $1.17 billion annual loss, the artificial intelligence software company has swung swiftly to a profit and sales are booming. Profit rose 33% to $327 million in the second quarter.

Its $1 billion quarterly revenue haul was fueled by a 53% spike in government sales, despite massive spending cuts under President Donald Trump and his Department of Government Efficiency, once led by the world’s richest man Elon Musk.

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[-] IndustryStandard@lemmy.world 1 points 1 week ago

Karp believes AI will benefit everyone, saying during a call with industry analysts on Monday that Palantir is, “bullish on all aspects of American life, including and especially people in the blue collar.”

He said Palantir wants to “arm the working class or blue collar workers with AI agency enhancing skills,” and said that the company will reach out to labor leaders to help familiarize workers with the technology.

???

[-] Sanctus@lemmy.world 2 points 1 week ago

Its all bullshit talk. What he means is the terrified elite are convinced they must track every movement of every citizen to ensure their dragon hordes remain and so does their influence.

this post was submitted on 06 Aug 2025

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