Market Performance of Nvidia and Palantir
Nvidia (NASDAQ: NVDA) and Palantir (NASDAQ: PLTR) have achieved remarkable shareholder returns since the beginning of 2023, with Palantir’s stock rising over 2,600% and Nvidia’s by nearly 1,100%. As of 2025, Palantir saw an increase of 134%, while Nvidia rose by 27%.
Recent Financial Highlights
In Q3 2023, Palantir’s year-over-year commercial growth reached 73%, contributing $548 million in revenue, whereas its government division grew by 55% with $633 million in revenue, totaling a 63% increase overall. In contrast, Nvidia generated $57 billion in revenue, a 62% increase year over year. The company anticipates global data center capital expenditures to surge to $3-4 trillion by 2030.
Valuation Concerns
Palantir’s stock is nearly seven times more expensive than Nvidia’s, trading at around 250 times forward earnings compared to Nvidia’s 36 times. This significant valuation gap raises concerns about the sustainability of Palantir’s growth compared to Nvidia’s, which is viewed as having greater potential for continued profitability.
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