Palantir Technologies stock surged over 23% after third-quarter results exceeded expectations, driven by strong U.S. government spending on AI solutions. Government revenue jumped 40% year-over-year, largely attributed to a new $100 million U.S. military contract. Palantir’s commercial revenue fell short, missing the expectations. CEO Alex Karp defended the company's controversial stance on supplying AI technology for defense, stressing its role in national security.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Palantir technology stock surged over 23 percent after third quarter results
00:07exceeded expectations, driven by strong U.S. government spending on AI solutions.
00:13Government revenue jumped 40 percent year over year, largely attributed to a new $100 million
00:18U.S. military contract. Palantir's commercial revenue fell short, missing the expectations.
00:24CEO Alex Karp defended the company's controversial stance
00:27on supplying AI technology for defense, stressing its role in national security.
00:32For all things money, visit Benzinga.com slash GSTV.