Overview

• Palantir shares reached an intraday record near $151 before settling around $149 on July 15, marking a 96% gain this year.
• Wedbush’s Dan Ives raised his price target to $160, citing growing confidence in Palantir’s AI-driven platform.
• Investors see the rally as driven by expectations of surging AI spending and a government revenue base that accounted for roughly 55% of 2024 sales.
• CEO Alex Karp joined President Trump at a Pittsburgh energy and AI summit where companies announced tens of billions in new infrastructure and data center investments.
• Market participants are awaiting the August 4 Q2 earnings release for insight into commercial growth and revenue acceleration.