Palantir Technologies shares shoot up 14% after hours as it upgrades for a third time
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Palantir Technologies Inc's stock surged 14% in after-hours trading after the company raised its annual revenue forecast for the third time. The increase in demand for its services is driven by businesses adopting generative AI and increased government spending.
November 05, 2024 | 12:30 pm
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Palantir Technologies' stock rose 14% in after-hours trading due to a raised annual revenue forecast, driven by demand for generative AI and increased government spending.
The stock price increase is directly linked to the company's positive revenue forecast revision, which is a result of strong demand for its AI services and government contracts. This indicates strong business performance and investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100