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Palantir raises outlook as AI demand boosts adjusted income and sales
The company now expects adjusted income from operations of $4.89 billion to $4.91 billion and sales up to $8.16 billion, after earlier guidance topped $4.45 billion.
Palantir Technologies shares jumped after the company lifted its full-year financial outlook, citing strong demand for its AI-powered data analytics platform. LiveMint Markets, citing Reuters, said Palantir described commercial demand as “otherworldly” and projected momentum for the year despite ongoing headwinds in parts of Europe.
Palantir now expects $4.89 billion to $4.91 billion in adjusted income from operations, up from the previously reported top end of $4.45 billion. The company also forecast sales of up to $8.16 billion, above the Bloomberg-compiled average estimate of $7.7 billion.
In a letter to shareholders, Palantir Chief Technology Officer Alex Karp said the company’s approach supports what he called AI sovereignty, adding that its business has “Marxist” values. He also discussed concerns about institutions giving language-model operators control, and said customers have resisted becoming “vassal states” of major language model providers, according to LiveMint Markets.
On the results backdrop, Palantir’s article said US revenue rose 115% to $1.57 billion, while sales abroad grew 33% to $362.5 million. It also noted that Palantir has faced pressure in Europe, where officials in France and the UK have moved to end deals with the company, the outlet reported.