Palantir Technologies (PLTR.O) has raised its annual revenue forecast for the second time this year, expecting sustained demand for its AI-linked services from businesses and governments. The data analytics and defense software firm is benefiting from U.S. President Donald Trump’s focus on national security and a shift in the Pentagon’s software-buying process towards commercial and “non-traditional” providers. The U.S. Army recently announced plans to purchase services of up to $10 billion from the company over a decade. Palantir’s shares have more than doubled in value this year, as investors bet on the company’s ability to benefit from the proliferation of AI technology and government spending on defense tech.
Palantir has revised its annual revenue forecast due to the increasing demand for AI.
