New York, May 31, 2026, 09:03 (EDT)
Palantir Technologies finished Friday at $156.54, gaining 9.2% and logging its best session in over a year. The closing price pushed its market cap close to $402 billion, with a price-to-earnings ratio around 176, according to market data.
Sunday trading isn’t an option. The New York Stock Exchange shuts down for the weekend, with normal hours from 9:30 a.m. to 4 p.m. Eastern on weekdays.
Palantir looks like a week-ahead trade instead of just an intraday move. The stock jumped almost 18% in two sessions. Software names got a lift as investors saw more signs of ongoing artificial intelligence spending in corporate tech budgets.
Snowflake gave the sector a push. The cloud-data software firm boosted its fiscal 2027 product revenue outlook and inked a five-year, $6 billion deal with Amazon Web Services aimed at AI infrastructure. “The Amazon deal adds another element to the growth path for Snowflake,” D.A. Davidson managing director Gil Luria said. Reuters
Palantir traded on its own news this month. Dell said it and Palantir will put Palantir Foundry and Ontology into Dell AI Factory as an on-premises system. That means the software runs in the customer’s data center—not in the public cloud. Dell is pitching the setup to users in defense, banking, critical infrastructure, and healthcare.
Palantir’s May earnings reset is still the frame. The company boosted its 2026 revenue outlook to a range of $7.65 billion to $7.66 billion. First-quarter revenue jumped 85% to $1.63 billion, driven by demand from U.S. government and commercial clients. “The United States remains the center, the constant core, of our business. And that business is erupting,” CEO Alex Karp wrote in a shareholder letter, according to Reuters. Reuters
Stocks got a lift from the wider market. The S&P 500 closed up for a ninth week in a row, and the Nasdaq climbed 2.4% for the week. Tech was out front on Friday. Dell moved higher after reporting better-than-expected profit and outlook on AI computing demand.
Rally faces two big tests this week. Investors are focused on the June 5 U.S. nonfarm payrolls numbers, plus Broadcom’s earnings. Both could shift market thinking on AI spending and what the Fed does with rates. Reuters said economists see 85,000 jobs added in May and unemployment holding at 4.3%.
But there’s clear risk here. Palantir’s valuation is tight, with not much margin if something goes wrong. A strong jobs report could lift bond yields if investors start worrying the Fed may hike rates; that puts more pressure on expensive growth names. “If you saw a real spike in interest rates that was maintained … that would be the thing that I think would be most disconcerting for investors,” Chuck Carlson, CEO at Horizon Investment Services, told Reuters. Reuters
Palantir is in the spotlight as investors try to decide if Friday’s jump signals a real turn in software appetite or just a bounce after losses. Snowflake and Dell stoked buying in AI-software names. Now attention is turning to the jobs report, yields, and Broadcom, which could shape whether that interest sticks around.
