Palantir lifts annual revenue forecast again as AI demand accelerates
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Palantir Technologies on Monday raised its annual revenue forecast for the second time this year, expecting sustained demand for its AI-linked services from businesses and governments.The data analytics and defense software firm is getting a boost from U.S. President Donald Trump's focus on national security and a shift in the Pentagon's software-buying process towards commercial and "non-traditional" providers.Last week, the U.S. Army said it might purchase services of up to $10 billion from the company over a decade.Palantir's shares were up 4% in extended trading. They have more than doubled in value this year, as investors bet on the company's ability to benefit from the proliferation of AI technology and government spending on defense tech.The company projected revenue in the range of $4.14 billion to $4.15 billion this year, up from its earlier forecast of between $3.89 billion and $3.90 billion.The raised forecast is also above analysts' average estimate of $3.90 billion, according to data compiled by LSEG.Sales to the U.S. government jumped 53% to $426 million, representing more than 42% of total second-quarter revenue of about $1 billion, which beat estimates."They have accelerants on both sides (commercial and government)" said Gil Luria, an analyst at D.A. Davidson who has a "neutral" rating on the stock."On the government side, their capabilities have gotten to a point where they can be the lead contractor on increasingly large projects."Palantir, co-founded by tech billionaire Peter Thiel, said it expects revenue derived from U.S. businesses to come in above $1.30 billion this year, up from its earlier guidance of more than $1.18 billion.The company beat second-quarter adjusted earnings expectations and forecast current-quarter sales above estimates.Palantir expects expenses to significantly ramp up in the third quarter due to the seasonality of the hiring process, CFO David Glazer said during a post-earnings call.Tech firms have been competing to attract and retain top talent, as they race to champion rapidly evolving AI technology. "We are doing very well on the talent acquisition and retention side," CEO Alex Karp said on the call.As the hiring frenzy for AI roles escalates to professional athlete levels, Karp said that recruiting did not focus on educational background."Once you come to Palantir, you're a 'Palantirian'. No one cares about the other stuff."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
17 minutes ago
- Mint
Trump's tariffs on India: Experts unveil this strategy for Indian stock market investors
Trump's tariffs on India: U.S. President Donald Trump, on Wednesday, an additional 25 per cent tariff on Indian imports as a punitive measure in response to New Delhi's ongoing purchases of Russian crude oil. With this move, the total U.S. tariff on Indian exports now stands at 50 per cent — 20 percentage points higher than the tariff on Chinese goods — posing a serious blow to India's export competitiveness. The revised tariff regime, revealed late Wednesday, is set to take effect after a 21-day grace period beginning August 27, 2025. Although this period offers a brief opportunity for diplomatic negotiations, both nations currently face limited avenues for resolution. Indian benchmark indices, Sensex and Nifty50, opened lower for the third consecutive session on Thursday, as investor sentiment was hit by the United States' decision to impose an additional 25% tariff on exports, sparking fears of economic repercussions and escalating global trade tensions. By 9:21 am, the BSE Sensex had dropped 266 points, or 0.33%, to 80,359, while the Nifty50 was trading 71 points lower, or 0.3%, at 24,502. " This punitive step threatens to derail the Indo-US strategic and economic relationship, which has evolved steadily since 1998. The implications of these levies extend beyond trade and into critical areas such as technology partnerships, H-1B visa access for Indian tech talent, cross-border capital flows, and the future of US firms' offshore manufacturing in India. The Indian government has strongly denounced the new measures as "unfair, unjustified, and unilateral", and is expected to explore both diplomatic and trade avenues to defend national interests. However, the near-term sentiment in financial markets is likely to remain cautious, as investors brace for potential retaliatory moves and await clarity from upcoming negotiations," said Sugandha Sachdeva- Founder-SS WealthStreet. According to Sachdeva, Nifty is hovering near a key support zone at 24,450, and a breach below this level could trigger a swift decline toward 24,180 in the short term. Key resistance in the near-term rests at the 24,750 and 24,950 levels. " Broader market sentiment may remain under pressure amid geopolitical uncertainty, with volatility expected to intensify, particularly in sectors sensitive to global trade flows, energy imports, and foreign capital exposure. Until there is visible progress on the diplomatic front or signs of a softened stance from the US administration, risk sentiment is expected to stay fragile, and a defensive approach may prevail among market participants. Eyes would also be on the Q1 earnings from several key companies which shall also influence the direction of the market," she said. Santosh Meena, Head of Research at Swastika Investmart, said that India remains a domestic consumption-driven economy, with limited direct exposure to the U.S., except in key sectors like IT, pharmaceuticals, and electronics, which are exempt from the current tariff announcement. However, sectors such as textiles, gems & jewellery, and leather may face sentimental pressure in the near term. Long-Term Investors: Stay the course. This development is a part of ongoing global trade tensions and shouldn't distract from India's long-term growth potential. Near-term volatility is an opportunity—not a threat—for long-term investors. Short-Term Traders: Exercise caution. The short-term outlook remains uncertain due to a combination of muted Q1 earnings, stretched valuations, and global trade tensions. Market texture appears weak in the near term, so a defensive and selective approach is advisable. However, any significant correction should be seen as a buying opportunity, as earnings momentum is expected to improve from the next quarter onward. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
17 minutes ago
- Economic Times
Vietnam trade beats estimates as buyers race Trump tariffs
Synopsis Vietnam's exports surged by 16% in July, exceeding expectations, as companies rushed shipments to the US ahead of impending tariffs. While exports to the US rose significantly, imports from China also increased. The tariffs pose a threat to Vietnam's economic growth, prompting trade negotiators to seek alternative markets and boost domestic consumption. iStock The Southeast Asian nation, an export powerhouse that sells everything from coffee and clothing to engine parts, has been shipping more goods this year to buyers aiming to avoid US President Donald Trump's tariffs. Vietnam's exports jumped more than expected in July, with buyers racing to avoid a 20% tariff on the country's exports to the US set to take effect on Aug. rose 16% in July from a year earlier to $42.3 billion, the statistics office said in a statement, beating expectations of 14% growth. Imports rose 17.8% in the period to $40 billion, more than the 15.2% forecast. The trade surplus was $2.27 billion, versus $2.83 billion released in Southeast Asian nation, an export powerhouse that sells everything from coffee and clothing to engine parts, has been shipping more goods this year to buyers aiming to avoid US President Donald Trump's tariffs. The country was initially threatened with a 46% import levy, though that has been lowered to 20%, just one percentage point more than for neighbors Indonesia, Malaysia, the Philippines and Thailand. 'Vietnam posted impressive export figures in July, mostly because companies were rushing to ship goods to the US ahead of the Trump tariffs,' said Tran Tuan Minh, chief executive officer of TVI, a Hanoi-based equity research and investment firm. 'We expect exports to slow significantly later this year, mainly due to the 20% tariffs and especially the 40% rate on transshipments, which still remains quite unclear at this point.' The government said in a statement Wednesday that trade negotiators are working to 'actively continue' talks with Washington. It also reiterated plans to diversify its markets, aiming for trade agreements with the Middle East and India, while increasing domestic consumption of Vietnamese goods. Exports to the US rose 26% in July from a year earlier to $14.2 billion, according to separate customs data released Wednesday. Imports from China increased 30.5% to about $16.7 billion in exports to the US account for roughly a fifth of Vietnam's gross domestic product, and the tariffs pose a threat to factories which have boomed as companies have diversified their supply chains from China. The data was generally positive, with consumer prices rising 3.19% on year, slower than the 3.40% economist estimate and the 3.57% pace of June. Industrial production rose 8.5% on year, and 0.5% compared with June. Commodity exports also gained, with coffee exports rising to 103,000 tons, a 34.6% rise on a year economy has been powering along in 2025, with gross domestic product rising 7.96% in the April-June period from a year earlier, according to data released last month. The government is aiming for 8% growth in 2025, though it's unclear whether the new US tariffs will derail that push.
Hindustan Times
17 minutes ago
- Hindustan Times
Apple CEO Tim Cook gifts 24K gold and glass statue to Donald Trump after ‘Make in US' pressure
Apple has announced that the company will heavily invest in the American Manufacturing Program (AMP), which aims to bring advanced manufacturing to the United States. With a symbol of its investment in the US, Apple CEO Tim Cook presented a custom-made gift to US President Donald Trump at the White House press conference. The unique piece of gift consists of a circular glass, made by Corning, which manufactures iPhone glass, and a 24K gold base. Tim Cook also highlighted that there's only 1 unit of this piece, and it has been designed and built in the USA. Apple announced $600 billion investment plan to bring manufacturing to the US. (REUTERS) Apple's unique gift to President Donald Trump At the White House press conference, Tim Cook gave a thoughtful gift to President Trump as a commitment to the United States for bringing a $600 billion investment plan over four years. This investment will primarily focus on shifting Apple's supply chain and advanced manufacturing hubs to the US. At the conference, Cook highlighted the uniqueness of the gift, which is all built in the US. As mentioned above, the showpiece consists of circular glass made by Corning. It mentions 'President Donald Trump' along with a massive Apple logo, Tim Cook's signature. We can also spot the 'Made in USA' with the year 2025. The glass is designed by a former US Marine Corps corporal who is working at Apple. The glass was placed over a 24K gold base, which comes from Utah. This gesture may have come as a move to foster relationships with the President and for the betterment of the US. Over the past few months, Trump has shown disapproval of manufacturing components in China and India. The US government has also threatened Apple with tariff hikes if they do not bring manufacturing to the home country. Now, with Apple's growing investment plans, Tim Cook said, 'We're proud to increase our investments across the United States to $600 billion over four years and launch our new American Manufacturing Program.' This program will be partnered by over 10 companies, including Corning, Coherent, GlobalWafers America, Applied Materials, Amkor, Texas Instruments, Samsung, GlobalFoundries, and Broadcom. These companies will produce components for the Apple products.
