Palantir Technologies Shares Are Up Today: What's Going On?

Palantir Technologies Inc. PLTR is continuing its strong upward trajectory Monday driven by increasing investor confidence in its AI capabilities and government contracts.

What To Know: CEO Alex Karp's latest book, “The Technological Republic,” sparked debate, with Harvard economist Jason Furman criticizing its emphasis on cultural solutions over concrete policy recommendations. Furman argued that the book advocates for a stronger connection between the government and tech to address national security and climate challenges but dismisses market mechanisms and lacks substantive policy proposals. While he acknowledged some merit in the book's cultural arguments, he found the absence of actionable solutions problematic.

Palantir's stock continues to gain momentum, fueled by its growing influence in the AI sector and expanding government partnerships. The company's market capitalization has now surpassed Lockheed Martin and analysts expect further growth.

Wedbush Securities' Dan Ives has called Palantir the "Messi of AI," predicting that 2025 will be a breakout year for its AI platform.

Karp's personal wealth has also skyrocketed, with his stake in Palantir increasing from $2.2 billion at the start of 2024 to $12.8 billion. The company is set to join the S&P 100, a move that further solidifies its rising status.

PLTR Price Action: Palantir shares closed Monday up 6.37% at $96.75, according to Benzinga Pro.