Palantir Stock Climbs on Nvidia Partnership, Ignores CEO’s Angry Diatribe
Palantir stock grew Thursday after the investment firm D.A. Davidson upgraded the asset to "Buy".
Quick overview
- Palantir Technologies' stock rose 3% following an analyst upgrade and a controversial appearance by CEO Alex Karp on CNBC.
- The company has formed a partnership with Nvidia to integrate AI into government and infrastructure services, contributing to its stock recovery to $129 per share.
- Investment firm D.A. Davidson upgraded Palantir to a 'buy' rating, citing significant profit growth despite a 29% decline since January.
- Palantir has secured a contract with the U.S. Army as their sole supplier for cloud data services, enhancing its reputation in the public sector.
On Thursday, Palantir Technologies (PLTR) advanced 3% and received an analyst upgrade while CEO Alex Karp appeared on CNBC’s Squawk Box and angrily spoke on the state of the AI market.
Palantir outperformed the broad market as well as other stocks in the AI sector. The stock climbed to $129 per share, marking a full recovery from the recent dropoff. The company is benefitting from a new agreement with Nvidia (NVDA) that implements AI into sovereign environments used by infrastructures and government services.
This week, the company’s CEO went on television to speak about the company and the AI market. His interview on the Squawk Box descended into an angry rant that Karp said was channeling the spirit of the American business.
Palantir Still a “Buy”?
Investment firm D.A. Davidson upgraded Palantir stock with a “buy” rating, moving it up from “Neutral”. The firm placed PLTR above Anthropic and OpenAI at a time when the companies are competing in a fierce market rivalry. The reason behind the upgrade was due to Palantir’s profit growth over the year so far, despite the stock falling about 29% from its January starting point.
The stock is currently trading below its 200-day and 50-day moving averages. Their last quarterly report, for the period ending in March 2026, showed revenue growth of 85% year-over-year. Their revenue growth just for the United States was 104% year-over-year.
Palantir’s stock value is primarily helped right now by their Nvidia partnership. Because Nvidia is the leading company globally in market capitalization, and their AI components are used extensively around the world, their partners benefit tremendously. Palantir enjoys a high profile in the public sector and are providing their products to the United States military as well as to nearly 1,000 other customers in the public and private sectors.
The U.S. Army chose Palantir to serve as their sole supplier for cloud data services, and they are implanting Palantir technology in a new drive to modernize their cloud data layer. The same Palantir Foundry powering that upgrade is also being used for Zeta Global and other customers, and Palantir is rapidly growing their public profile as a go-to source for advanced, essential AI services and technology.
As Palantir moved higher on Thursday morning, Nvidia (NVDA) slipped 0.96%, and Meta Platforms fell nearly 4%.
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