Overview

• Palantir delivered its first quarter above $1 billion in revenue with 48% year-over-year growth, signaling continued acceleration.
• U.S. commercial results jumped 93% year over year, with $843 million in total contract value bookings and 485 customers as AIP adoption broadened.
• The stock has surged roughly 2,000% over recent years and trades near 134 times sales with a forward P/E above 700, prompting warnings that gains reflect multiple expansion.
• Salesforce’s Marc Benioff praised Palantir’s momentum but criticized its pricing as the most expensive he has seen and noted a recent Army contract win over Palantir.
• Analyst opinions diverge, with William Blair reiterating Market Perform and projecting about 103% commercial growth this quarter as KraneShares’ Derek Yan argues Palantir could become the enterprise AI “operating system.”