Alex Karp, CEO of Palantir Applied sciences, speaks on a panel titled Energy, Objective, and the New American Century on the Hill and Valley Discussion board on the U.S. Capitol on April 30, 2025 in Washington, DC.
Kevin Dietsch | Getty Photographs
Palantir has hit one other main milestone in its meteoric inventory rise. It is now one of many 20 Most worthy U.S. corporations.
The supplier of software program and information analytics know-how to protection companies noticed its inventory rise about 3% on Friday to a different document, lifting the corporate’s market cap to $375 billion, which places it forward of Home Depot and Procter & Gamble. The corporate’s market worth was already greater than Bank of America and Coca-Cola.
Palantir has greater than doubled in worth this yr as traders ramp up bets on the corporate’s synthetic intelligence enterprise and nearer ties to the U.S. authorities. Since its founding in 2003 by Peter Thiel, CEO Alex Karp and others, the corporate has steadily accrued a rising record of shoppers.
Income in Palantir’s U.S. government business elevated 45% to $373 million in its most up-to-date quarter, whereas whole gross sales rose 39% to $884 million. The corporate subsequent studies outcomes on Aug. 4.
Earlier this yr, Palantir soared forward of Salesforce, IBM and Cisco into the top 10 U.S. tech companies by market cap.
Shopping for the inventory at these ranges requires traders to pay hefty multiples. Palantir at the moment trades for 273 occasions ahead earnings, based on FactSet. The one different firm within the prime 20 with a triple-digit ratio is Tesla at 175.
With $3.1 billion in whole income over the previous yr, Palantir is a fraction the dimensions of the following smallest firm by gross sales among the many prime 20 by market cap. Mastercard, which is valued at $518 billion, is closest with gross sales over the previous 4 quarters of roughly $29 billion.
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