Palantir surged 8% on Thursday, boosting its market cap to $281 billion and breaking into the top 10 U.S. tech companies, according to CNBC. The data analytics firm has outperformed peers amid tariff concerns and economic uncertainty, with shares up 58% this year and over five times in the past year. Its rally follows strength in government contracts, including a $178 million AI deal with the U.S. Army. Analysts warn of its steep valuation, trading at 520 times trailing earnings and nearly 90 times revenue. Jefferies' Brent Thill called the valuation “irrational” despite strong fundamentals. CEO Alex Karp told CNBC that the company is confident in its path and partnerships, and indifferent to whether skeptical investors choose to join.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Altair surged 8% on Thursday, boosting its market cap to $281 billion of breaking into the top 10 U.S. tech companies, according to CNBC.
00:10Data analytics firm has outperformed pairs amid tariff concerns and economic uncertainty, with shares up 58% this year.
00:16Its rally filed straight into government contracts, putting a $178 million AI deal with the U.S. Army.
00:22Analysts warn of its steep valuation, trading at 520 times trailing earnings, nearly 90 times revenue.
00:26Jeffries Brett Thill called the valuation irrational, despite strong fundamentals.
00:31CEO Alex Carp told CNBC that the company is confident in its path in partnerships, and it differs whether skeptical investors choose to join.
00:38For all things money, visit Benzinga.com slash GSTV.