Overview
- Palantir posted Q3 revenue of $1.18 billion, up 63% year over year, and raised guidance for both the fourth quarter and the full year.
- Operating momentum included a record $2.8 billion in total contract value, $540 million in adjusted free cash flow, and reported GAAP net income of $476 million.
- Shares slid for the week as AI leaders fell, with coverage estimating losses approaching $1 trillion in combined market value for major tech names and volatility gauges rising.
- An SEC filing showed Michael Burry’s Scion Asset Management disclosed roughly $1.1 billion in notional put options tied to Palantir and Nvidia.
- Valuation concerns persisted, with data providers citing forward P/E multiples well into the hundreds as analysts split between aggressive targets and calls for the stock to cool.