New York, Jan 20, 2026, 10:46 EST — Regular session
Shares of Palantir Technologies (PLTR.O) slipped 0.4% to $170.33 by 10:31 a.m. EST, after earlier dipping to $164.62. The drop followed news of a major software contract with South Korea’s HD Hyundai, reportedly worth hundreds of millions over several years, according to a source familiar with the deal. Palantir declined to disclose terms. The companies are set to announce the agreement at the World Economic Forum in Davos, where CEO Alex Karp expressed he’s “very bullish” on Korea but emphasized the need to “selectively engage abroad” given the company’s strong position in America. (Reuters)
Palantir’s partnership with Hyundai is significant as the company aims to expand beyond its niche, high-stakes image into more frequent, larger-scale industrial deployments. Such projects tend to be complex and unfold at a deliberate pace.
Traders are growing less tolerant of long-term promises. Even with the stock swinging wildly this month, upbeat deal headlines often trigger only muted moves when the revenue timeline remains unclear.
In a joint statement, the companies announced that the expanded partnership will boost adoption of Palantir’s Foundry — its data-integration platform — along with its Artificial Intelligence Platform, or AIP, across HD Hyundai’s various sectors, including shipbuilding, construction equipment, robotics, and electric systems. HD Hyundai chairman Chung Kisun emphasized the goal of linking data and workflows into “a single, cohesive system.” Meanwhile, Karp described HD Hyundai as “a pioneering force in global industry.” (Business Wire)
The stock faltered amid a drop in U.S. equities, with the S&P 500 tracker SPY falling around 1.1% and the Nasdaq-100 fund QQQ sliding about 1.2%. High-priced software stocks have taken a hit in this environment.
Investors watching Palantir will want to see if the Hyundai project is more than just a flashy overseas demo — will it expand rapidly within the group and generate real subscription revenue? These rollouts often demand significant time and resources before they translate into clear quarterly results.
The bigger question: how will the deal impact margins? Large, complex deployments usually kick off with intense implementation efforts, which can weigh on profits even if sales climb.
The financial details remain under wraps, and launching globally can stumble over internal pushback and integration issues. Even if tech sales keep up, contract announcements alone might not calm nerves.
Traders will keep an eye on whether Tuesday’s low holds in the short term. If it breaks, attention will shift back to positioning rather than customer activity.
Palantir’s fourth-quarter earnings drop on Feb. 2, right after the 4 p.m. ET close, with a webcast set for 5 p.m. ET. Investors will be watching closely for any signs of how quickly major clients are ramping up deployments—this could set the tone for PLTR’s next move. (Business Wire)
