Palantir's Surging AI Business Drives 50% Stock Surge and Profitability
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Palantir's Q4 revenue grew 20% year-over-year to $608.4M, topping estimates. Net income also increased significantly.
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Palantir's customer base grew 35% to 497 customers in Q4, showing surging private sector demand.
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Palantir hosted 500+ "boot camps" in 2023 to fuel interest in its AI offerings and acquire customers.
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Although smaller than Big Tech, Palantir delivered profitability and consistency, sending its stock up 50%.
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Like Microsoft and Amazon, Palantir showed the business potential of AI through expanding margins and cash flow.