Palantir’s Stock Soars on AI Deals, Hitting Record High – Can the Rally Hold?
Palantir Technologies shares hit a record intraday high near $190 Monday, pushing its market cap to about $400 billion. The surge follows major defense and telecom deals, including a new AI partnership with Poland and a $200 million contract with Lumen Technologies. Shares are up over 150% year-to-date and nearly 18-fold since the 2020 IPO. Wall Street remains split on valuation ahead of Q3 earnings next week.