Palantir nearly doubled revenue thanks to AI demand, company shares responded with growth

U.S. tech company Palantir increased revenue in the second quarter of 2026 by 93% to $1.94 billion. Results exceeded analysts’ expectations, and after the report was published, the company's shares rose by approximately 12%.

Wall Street analysts expected Palantir's quarterly revenue to be about $1.81 billion. Adjusted profit per share reached 41 cents against a forecast of 34 cents.

The main driver of growth remained demand from U.S. companies and government agencies for artificial intelligence and data analytics solutions. Palantir's U.S. commercial segment revenue surged 149% to $764 million.

Revenue from contracts with U.S. government entities grew by 90%, reaching $809 million. Overall, during the quarter, Palantir signed contracts worth $3.37 billion, and the company’s free cash flow surpassed $1 billion for the first time.

Palantir's management attributes the demand to customers' desire to use AI without giving third-party developers control over their own data and models. The company is promoting the concept of “sovereign AI,” where customers can run and customize models on their own infrastructure.

Following a strong quarterly report, Palantir raised its full-year 2026 revenue forecast by almost $500 million. The company now expects to bring in between $8.15 billion and $8.158 billion, up from the previous guidance of $7.65–7.66 billion.

Based on materials from: MarketWatch, The Wall Street Journal, The Guardian