Palantir rockets on blowout Q2 as US commercial AI demand surges

Palantir shares jumped about 30% after a blowout fiscal Q2 that beat estimates: revenue of $1.94B and adjusted earnings of $0.41 per share, with full-year revenue guidance raised to $8.16B. The company credited a 149% year-over-year rise in US commercial revenue and 93% overall revenue growth, with US government revenue up 90% YoY. Palantir closed 220 deals worth $1M+ (98 at $5M+, 73 at $10M+), and posted $1.22B in adjusted free cash flow. Management touted its two-track AI strategy and Maven’s Pentagon role as a growth driver, while Wall Street remains bullish on the stock.