New York, Jan 29, 2026, 12:53 (EST) — Regular session underway.
- Innodata shares jumped roughly 14% following Palantir’s choice of the company for AI training-data services
- Palantir shares dropped roughly 4% amid a broader decline in U.S. tech stocks
- Attention now shifts to the contract’s scope and the upcoming earnings report
Shares of Innodata Inc (INOD.O) surged 13.8%, hitting $63.52 by midday Thursday, following news of a project linked to Palantir Technologies (PLTR.O). The stock peaked at $64.82 earlier, with more than 2.9 million shares changing hands.
This development is significant because investors view customer wins in the data-prep layer as an early indicator of how quickly AI spending is shifting from pilots to full deployments. Innodata announced it will supply training data and data engineering support for Palantir’s AI-powered platforms analyzing rodeo events. Financial details were not made public by either company. 1
Training data consists of labeled material that teaches an AI model what it’s analyzing. Annotation refers to the process of tagging images, video, or text, enabling models to recognize patterns and reduce errors in their predictions.
Dimitrios Lymperopoulos, Palantir’s head of machine learning, said Innodata’s training data and data engineering “can help us to scale” capabilities with the accuracy customers expect. Vinay Malkani, senior vice president at Innodata Federal, added the collaboration “reinforces Innodata’s role” as a key data engineering partner for AI firms. 2
Trades like this usually catch traders’ attention since video-heavy “computer vision” projects demand massive data and intense labor, especially when aiming for top-notch accuracy. Still, revenue often comes in fits and starts, leaving investors hanging until the next earnings call reveals how much work is actually underway.
Near-term risks linger around undisclosed details: pricing, duration, and the possibility the work could extend beyond the initial program. Earlier this month, a Form 144 filing revealed former chairman Nauman Sabeeh Toor intended to sell 5,385 shares, with additional sales reported in early January. 3
Shares of TaskUs Inc (TASK.O), a provider of outsourced data services, saw little movement throughout the day.
Traders are now waiting for more details — an SEC filing, a customer slide deck, or executive remarks — that clarify timing and scale. The key question is whether Palantir’s work can be replicated across other programs or remains a one-off event.
Nasdaq’s earnings calendar pins Innodata’s next report for about Feb. 19. That’s when investors will get a fresh look at backlog, margins, and how concentrated its customer base remains. 4
