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Palantir shares rally for best week since 2024 as AI demand rebounds

The company closed more than $2.0 billion in U.S. commercial contract value in Q2, up 153% year over year, and shares were up 10% Friday toward a 39% weekly gain.

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Palantir’s stock surged in Friday trading as investors returned to the shares after renewed demand for the company’s AI offerings, according to MarketWatch. The report said Palantir shares were up 10% on Friday, tracking a potential 39% gain for the week.

MarketWatch also cited Palantir’s second quarter results, which the outlet described as “anomalously strong.” The company reportedly closed over $2 billion in U.S. commercial contract value in Q2, a 153% increase from the prior-year period.

The outlet added that the expected weekly performance would be Palantir’s best week since November 2024. It noted that the prior record was linked to a post-earnings surge after Palantir showed progress monetizing its Artificial Intelligence Platform.

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