Palantir shares jump as soaring AI demand powers forecast upgrade

Palantir Technologies shares rose 5% in premarket trading on Tuesday, after the company lifted its annual revenue forecast for the second time this year, betting on strong demand for its AI-related services from governments and companies.

Investors have been betting big on the data analytics and defense software company’s military-grade artificial intelligence tools and services, with the company being one of the biggest beneficiaries from increased US defense spending.