Palantir Storms Past $300 Billion Valuation, CEO Karp Champions Saudi AI Over Europe

Palantir Technologies Inc PLTR smashed through a major milestone Tuesday, topping a $300 billion market cap for the first time ever after hitting an all-time high of $130.60 during the session.

That's not a typo. Just two years ago, Palantir's valuation sat at $20 billion. One year ago? $49 billion. Now? A staggering $302.3 billion – nearly an eightfold increase in just 24 months. The AI-driven defense tech firm is now one of Wall Street's most explosive comeback stories.

Behind The Cocktail Of Bullish PLTR Stock Technicals

PLTR stock has surged 497% over the past year, including a 70% rally in 2025 alone and a 38% jump in just the past month. Behind the momentum is a cocktail of bullish technicals, AI-driven optimism, and some headline-grabbing confidence from CEO Alex Karp.

Chart created using Benzinga Pro

Technically, PLTR stock is firing on all cylinders. It trades above its eight, 20, 50, and 200-day simple moving averages. The Relative Strength Index (RSI) of 68.11 points to healthy bullish momentum without being overbought, while a Moving Average Convergence Divergence (MACD) indicator of 8.38 confirms strong buying pressure.

Read Also: Tech Traders Are Speed-Dating Volatility And Palantir Is The Perfect Case Study

Saudi = Engineering Excellence, While Europeans Have Given Up

Speaking at the Saudi-U.S. Investment Forum on Tuesday, Karp lavished praise on Saudi engineers for their “engineering excellence” and forward-looking approach to AI. He didn't mince words about the other side of the Atlantic either. "Europe, where, you know, it’s like people have given up," Karp said, highlighting the continent's sluggish AI adoption and over-regulation.

The comments, made as President Donald Trump and a cadre of U.S. tech executives arrived in Riyadh, reinforced Palantir's growing presence in global AI conversations – particularly in geopolitically strategic regions like the Middle East.

Karp's bold bets, both strategic and rhetorical, are paying off. And as Palantir crosses into mega-cap territory, the message to skeptics is clear – AI is war tech, and Palantir intends to lead both fronts.

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