Data analytics firm Palantir jumps as AI boom powers software adoption

Quick Summary:

:Palantir shares jumped more than 14 per cent before the bell on Tuesday, after the data analytics firm raised its annual revenue forecast for the third time, bolstering investor confidence that the AI frenzy was fueling demand for its services.

The growth demonstrates that the commercial sector has proven to be a "fruitful opportunity", Coatsworth said.

If premarket gains hold through the day, Palantir is expected to add $13.8 billion to its market value.

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Category: EconomyBusiness

Markets: SingaporeUnited States

Topics: Stock 2024 Revenue Palantir Cent Value Data Annual Billion Washington Army

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 19:50:03 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 421 words

Reading Time: 3 minutes read

Sentences: 16 lines

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Copyright Owner: © Channel News Asia

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