NEW YORK, March 13, 2026, 11:57 EDT
Palantir Technologies slipped roughly 2.7% to $149.41 late Friday morning, underperforming the broader U.S. market. This comes just a day after the company rolled out fresh AI and defense collaborations at its AIPCon event, among them a software agreement with Nvidia. Earlier, shares hit a session low of $148.88.
Palantir’s shares have been volatile, riding the wave of investor enthusiasm for AI companies with defense ties. According to Barron’s market data, the stock is still down 13.9% for 2026 as of Thursday—this comes despite a hefty 92.2% jump over the past 12 months.
Palantir in February put out a 2026 revenue outlook of $7.18 billion to $7.20 billion, topping LSEG’s projections, following a 66% leap in Q4 U.S. government revenue to $570 million. After that, Reuters cited eToro’s Zavier Wong, who flagged lingering valuation concerns, saying the shares were still “priced for perfection.” Reuters
Palantir and Nvidia on Thursday announced plans for a “sovereign AI” offering, pitching a pre-built datacenter stack designed so that governments and businesses can keep their data and AI models firmly in-house. “Customers in sensitive environments must maintain control,” Palantir Chief Architect Akshay Krishnaswamy said. Nvidia’s Justin Boitano added the platform aims to transform data into actionable intelligence “with speed, efficiency, and trust.” Business Wire
Palantir leveraged the event to deepen relationships elsewhere. GE Aerospace announced plans to broaden its partnership with Palantir, aiming to boost Air Force readiness and streamline production. Meanwhile, LG CNS said it will set up a dedicated engineering team with Palantir inside the Korean tech group, focusing on rolling out AI initiatives throughout LG’s affiliates.
Centrus Energy, which counts itself among AIPCon’s clients, reported that initial collaboration with Palantir starting in late January surfaced almost $300 million in possible cost reductions as Centrus ramps up U.S. uranium enrichment. Palantir, for its part, said AIPCon 9 will feature case studies from the U.S. Department of Navy, SAP, Accenture, GE Aerospace, the Joint Commission, Centrus, and the Pentagon’s Chief Digital and AI Office—underscoring the company’s push to get its software into both government and private sector hands.
Palantir is dealing with the aftermath of the Pentagon’s split from Anthropic. On Thursday, Bloomberg reported CEO Alex Karp said Palantir’s software currently runs with Anthropic and will probably integrate with other large language models—the AI systems powering chatbots and similar technologies.
The picture isn’t straightforward. Reuters reported last week that key components of Palantir’s Maven Smart System—a military intelligence and targeting tool—run on Anthropic’s Claude code. After Washington told agencies to cut ties with Anthropic, reworking those parts could take months. Not long after, OpenAI signed on with the Pentagon, underscoring just how quickly the defense AI supplier mix is changing.
