Palantir lifts annual revenue forecast on steady demand for AI-powered data analytics

Palantir Technologies on Monday raised its annual revenue forecast again, signaling strong government and commercial demand for its data analytics software, sending its shares up 14% in extended trading.

Denver-based Palantir has increasingly been marketing military-grade AI tools to businesses through its artificial intelligence platform that helps companies integrate and develop the technology.

“Our business is compounding at a rate and scale that we have never before witnessed,” ‌Palantir CEO Alex ⁠Karp said ⁠in a letter to shareholders.