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Nvidia’s Strong Financial Results Impact Palantir
Nvidia (NASDAQ: NVDA) reported a 62% increase in revenue year-over-year, reaching a record $57 billion for its fiscal 2026 third quarter, ended October 26. Its earnings per share rose 60% to $1.30, driven by a surge in demand for graphics processing units (GPUs). Nvidia’s data center revenue skyrocketed 66% year-over-year, reaching $51.2 billion. The company anticipates $500 billion in sales from its AI-centric chips through the end of 2026.
In response to Nvidia’s results, Palantir Technologies (NASDAQ: PLTR) saw its stock climb 5.5% at its peak and maintain a 1.8% increase at 11:15 a.m. ET. The rise reflects reduced fears of an AI slowdown benefitting Palantir, which specializes in data aggregation and AI solutions. However, Palantir’s stock currently trades at 165 times next year’s expected earnings, highlighting the risks associated with any slowdown in AI adoption.
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