Palantir's Market Cap Surges Past Lockheed Martin Amid AI Boom
Palantir Technologies has seen its market value soar, driven by its AI platform and strategic partnerships, leading to a significant shift in the defense and technology sectors.
- Palantir Technologies' market capitalization reached $137.17 billion, surpassing that of defense giant Lockheed Martin.
- The company's stock has risen over 263% year-to-date, fueled by strong financial performance and growth in AI services.
- Palantir's revenue grew by 30% in the third quarter, with significant gains in both government and commercial sectors.
- Despite its success, Palantir's high valuation raises concerns, with a price-to-earnings ratio significantly above industry norms.
- The company's AI platform, AIP, has been a key driver, attracting a growing number of commercial customers and large-scale contracts.
Benzinga 