Palantir shares jump 13% as U.S. AI demand sends revenue soaring past targets

Palantir reported second-quarter revenue of $1.94 billion, a 93% year-over-year increase, surpassing analyst expectations. The AI software company's stock rose 13% after hours due to strong U.S. commercial and government revenue growth, with net income of $1.1 billion exceeding forecasts. Palantir raised its 2026 revenue guidance to $8.15 billion–$8.158 billion, up from its initial forecast.