Palantir Technologies shares closed Monday at a record high, up 4.96% for the day and nearly double year-to-date, according to Benzinga. The AI software firm has benefited from surging demand for its Artificial Intelligence Platform, with CEO Alex Karp describing the shift as “tectonic” for enterprise adoption. Palantir beat first quarter estimates in May, with U.S. Commercial revenue up 71% and customer count rising 39% year-over-year. The company reported 139 deals exceeding $1 million and 51 deals exceeding $5 million. Analysts are split on the stock’s future, with Wedbush setting a Street-high price target of $160 and predicting a $1 trillion valuation in 2 to 3 years. Palantir will report Q2 results after the bell on August 4.
