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投資雜談
Palantir shares have surged more than 1,700% since the artificial intelligence software company went public on the New York Stock Exchange in September 2020.
Government contracts have been a key revenue driver for the company as it inks more deals with the U.S. Department of Defense.
Palantirs valuation has soared to astronomical heights relative to technology peers that make far more revenue.
Palantirs astronomical rise since its public debut on the New York Stock Exchange in a 2020 direct listing has been nothing short of a whirlwind.
Over nearly five years, the Denver-based company, whose co-founders include renowned venture capitalist Peter Thiel and current CEO Alex Karp, has surged more than 1,700%. At the same time, its valuation has broken new highs, dwarfing some of the worlds technology behemoths with far greater revenues.
The artificial intelligence-powered software company continued its ascent last week after posting its first quarter with more than $1 billion in revenue, reaching new highs and soaring past a $430 billion market valuation.
Shares havent been below $100 since April 2025. The stock last traded below $10 in May 2023, before beginning a steady climb higher.
Retail investors are a key part of the stocks strength.
Last month, retail poured $1.2 billion into Palantir stock, according to data from Goldman Sachs.
Heres a closer look at Palantirs growth over the past five years and how the company compares to megacap peers.
Government contracts have been one of Palantirs biggest growth areas since its inception.
Last quarter, the companys U.S. government revenue grew 53% to $426 million. Government accounted for 55% of the companys total revenue but commercial is showing promise. Those revenues in the U.S. grew 93% last quarter, Palantir said.
Still, one of the companys oldest customers is the U.S. Army.
Earlier this month, the company inked a contract worth up to $10 billion for data and software to streamline efficiencies and meet growing military needs. In May, the Department of Defense boosted its agreement with Palantir for artificial intelligence-powered battlefield capabilities by $795 million.
WestillbelieveAmericaistheleaderofthefreeworld,thattheWestissuperior, Karp said on an earnings call earlier this month. We have to fight for these values; we should give American corporations, and, most importantly, our government, an unfair advantage.
The U.S. has been a key driver of Palantirs growth, especially as the company scoops up more contracts with the U.S. military.
Palantir said the U.S. currently accounts for about three-quarters of total revenues. Commercial international revenues declined 3% last quarter and analysts have raised concerns about that segments growth trajectory.
Over the past five years, U.S. revenues have nearly quintupled from $156 million to about $733 million.Revenues outside the U.S. have doubled from about $133 million to $271 million.
Palantirs market capitalization has rapidly ascended over the past year as investors bet on its AI tools, while its stock has soared nearly 500%.
Palantirs market capitalization has rapidly ascended over the past year as investors bet on its AI tools, while its stock has soared nearly 500%.
The meteoric rise placed Palantir among the top 10 U.S. tech firms and top 20 most valuable U.S. companies. But Palantir makes a fraction of the revenue of the companies in those lists.
Last quarter, Palantir reported more than $1 billion in quarterly revenue for the first time, and its forward price-to-earnings ratio has surged past 280 times.
By comparison, Apple and Microsoft posted revenue of $94 billion and $76 billion during the period, respectively, and carry a P/E ratio of nearly 30 times.
Forward P/E is a valuation metric that compares a companys future earnings to its current share price. The higher the P/E, the higher the growth expectations or the more overvalued the asset. A lower price-to-earnings ratio suggests slower growth or an undervalued asset.
Most of the Magnificent Seven stocks, except for Nvidia and Tesla, have a forward P/E that hovers around the 20s and 30s. Nvidia trades at more than 40 times forward earnings, while Teslas sits at about 198 times.
At these levels, investors are paying a jacked-up premium to own shares of one of the hottest AI stocks on Wall Street as its valuation has
