GoKawiilPalantir CEO Alex Karp speaks during an interview on July 27, 2026 in New York City.
Palantir stock skyrocketed 29.5% on Tuesday after the company reported "otherworldly" second-quarter earnings driven by customer demand for AI sovereign tools.
Shares narrowly missed their best day ever, when the stock gained 30.8% on Feb. 6, 2024.
The enterprise software giant reported a 93% growth in overall revenue to $1.94 billion, up from around $1 billion a year ago, and beating LSEG estimates of $1.8 billion. Its commercial revenue jumped 149% to $764 million, and government revenue grew 90% to $809 million.
The company expects full-year revenue between $8.15 billion and $8.158 and commercial revenue in excess of $3.424 billion. Palantir was last up 16.3% in premarket trading.
Palantir's Co-founder and CEO Alex Karp described the quarter as "otherworldly," adding that the sovereign AI revolution makes them "very optimistic about the future."
"Forget consensus," Karp told CNBC's Seema Mody in an exclusive interview. "To my knowledge, no businesses at our scale has even grown half this much."