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Photo = Yonhap news |
[Alpha Biz= Paul Lee] New York, May 30 (local time) — Shares of Palantir Technologies soared 7.73% to close at $131.78 on Thursday after The New York Times reported that the U.S. government is increasingly relying on the company's AI-powered data analytics capabilities.
The surge pushed Palantir’s market capitalization to $310.9 billion, placing it among the top 30 most valuable companies globally, and ahead of South Korea's largest company Samsung Electronics ($267.5 billion).
According to The New York Times, the U.S. government, particularly under the Trump administration, has expanded its collaboration with Palantir due to its ability to leverage artificial intelligence for analyzing vast troves of data and assisting in strategic decision-making.
Fueled by this report, Palantir stock has now climbed 11% over the past month, 96% over the last six months, and a staggering 506% over the past year, making it one of the biggest beneficiaries of the AI boom on Wall Street.
However, concerns are growing over the company’s lofty valuation. As of Thursday’s close, Palantir’s price-to-earnings ratio (PER) stands at a staggering 572, significantly higher than Tesla’s 196, raising red flags among analysts who consider a PER of around 20 to be reasonable.
Palantir, known for its government contracts and AI-driven data analytics solutions, continues to be a standout in the red-hot AI sector.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
