Palantir Technologies Partners with Nvidia, Stock Rises
Palantir Technologies (NASDAQ: PLTR) shares surged 14% this past week following news of a collaboration with Nvidia (NASDAQ: NVDA) to enhance the U.S. government’s use of open-source AI models. This partnership aims to combine Palantir’s AI operating system with Nvidia’s accelerated computing infrastructure, potentially increasing efficiency, safety, and customization for government agencies.
In the first quarter, Palantir’s government division reported a substantial revenue increase of 84% year-over-year, reaching $687 million. Analyst Gil Luria from D.A. Davidson upgraded Palantir’s stock from neutral to buy, setting a price target of $175. He emphasized that companies leveraging Palantir’s platform would encounter fewer disruptions compared to those using specific AI models, especially in light of recent challenges faced by other AI providers.
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