Palantir CEO Alex Karp speaks throughout an interview on July 27, 2026 in New York Metropolis.
John Lamparski | Getty Pictures
Palantir soared in premarket buying and selling on Tuesday after the corporate reported “otherworldly” second-quarter earnings pushed by buyer demand for AI sovereign instruments.
The enterprise software program big reported a 93% progress in total income to $1.94 billion, up from round $1 billion a yr in the past, and beating LSEG estimates of $1.8 billion. Its industrial income jumped 149% to $764 million, and authorities income grew 90% to $809 million.
The corporate expects full-year income between $8.15 billion and $8.158 and industrial income in extra of $3.424 billion. Palantir was final up 16.3% in premarket buying and selling.
Palantir’s Co-founder and CEO Alex Karp described the quarter as “otherworldly,” including that the sovereign AI revolution makes them “very optimistic concerning the future.”
“Overlook consensus,” Karp advised CNBC’s Seema Mody in an unique interview. “To my information, no companies at our scale has even grown half this a lot.”
Palantir, which designs programs that assist corporations combine AI with their current programs and knowledge, pinned its blowout earnings on rising demand for AI sovereignty as corporations search to maintain their knowledge non-public from frontier AI labs like OpenAI, Google, Anthropic, and Meta.
In a letter to shareholders, Karp mentioned “the revolution for independence and AI sovereignty is now properly underway,” noting that the enterprise has “Marxist” values.
“Our prospects have declined to turn out to be vassal states of the language labs,” Karp mentioned within the letter. “Each group on the earth is awakening to the dangers of handing the creators of the language fashions the keys to their establishments, of letting the fashions unfastened inside their properties.”
The corporate’s inventory has declined 29% to date this yr as buyers more and more turn out to be cautious on the AI commerce.
Palantir’s inventory in 2026 to date.
Regardless of this, Citi analysts mentioned in a word on Tuesday that Palantir’s outcomes “additional weaken the bear case round rising AI competitors,” as demand for knowledge privateness from AI corporations units it aside. Corporations depend on Palantir’s expertise to combine their software program, whereas additionally making calls for to maintain their knowledge non-public from AI fashions.
“In our view, the outcomes reinforce Palantir’s place as one of many clearest beneficiaries of enterprise AI adoption, with accelerating industrial demand demonstrating the corporate is benefitting from related demand because the quickest AI natives available on the market,” the analysts mentioned in a earlier word on Monday.
“We count on shares up meaningfully given the numerous snapback in U.S. Industrial efficiency, which pushes again towards slowing progress,” they added.
