Palantir Technologies (NASDAQ:PLTR) shares advanced on Wednesday as enthusiasm around its artificial intelligence platforms and steady flow of government contracts continued to drive momentum.
The software maker, best known for its Gotham and Foundry platforms, specializes in helping organizations integrate and analyze vast datasets across defense, intelligence, and commercial sectors such as finance, healthcare, and energy.
The stock has surged more than 112% so far this year, lifted by mounting investor confidence in Palantir’s positioning within AI-driven defense and enterprise applications.
Salesforce CEO Marc Benioff recently underscored the company’s influence, praising its premium pricing strategy and unique Forward-Deployed Engineer model, which embeds specialists with clients prior to contract finalization.
Benioff also admired Palantir’s $310 billion market valuation, which it achieved despite a guidance of just over $4 billion in annual revenue, significantly less than Salesforce’s $41 billion.
He also acknowledged the competitive battle for government deals. Benioff noted Salesforce had recently won a major U.S. Army contract over Palantir but highlighted Palantir’s ability to sustain premium pricing in specialized markets.
Palantir’s role in national security gained further attention after reports that the Trump administration is weighing an ownership stake in the company, echoing its recent approach with Intel (NASDAQ:INTC) to bolster U.S. technology and defense assets.
The development came as short-seller Citron Research disclosed a bearish position, labeling Palantir “beyond overvalued” and setting a $40 price target.
Price Action: PLTR shares are trading higher by 1.83% to $159.97 as of last check Wednesday.
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