What's Going On With Palantir Technologies Shares

Palantir Technologies Inc PLTR shares are trading higher by 1.67% to $11.91 Monday afternoon. The stock is higher by some 27.11% over the trailing five sessions amid ongoing strength after Cathie Wood's Ark Invest week was a buyer yet again, as the stock shot up to its highest level in over a year.

Additonally, the company earlier this month said first-quarter revenue increased 18% year-over-year to $525 million, which beat average analyst estimates of $505.6 million. The data software company reported quarterly earnings of 5 cents per share, which beat consensus estimates of 4 cents per share...Read More

See Also: U.S. Stocks Rise Ahead Of Crucial Debt Ceiling Talks

Palantir shares have also skyrocketed some 86% on a year-to-date basis amid strength in AI-related stocks.

For the unitiated, Palantir is an analytical software company that focuses on leveraging data to create efficiencies in its clients' organizations. The firm serves commercial and government clients via its Foundry and Gotham platforms, respectively.

What Else Is Going On With Palantir, AI Commentary?

Palantir CEO Alex Karp provided his insights on artificial intelligence (AI) and large language models at the 2023 Copenhagen Democracy Summit.

His thoughts were aimed at highlighting the pivotal role of AI on the battlefield and its potential implications in the commercial sector. Karp's commentary explored the importance of recognizing AI's rapidly increasing significance on the world stage...Read More

According to data from Benzinga Pro, PLTR has a 52-week high of $12.41 and a 52-week low of $5.92.