Palantir soars 16% after it reports first profitable quarter and talks up artificial intelligence potential
stock soared as much as 16% on Tuesday after the company reported its first profitable quarter on record.
The company said its US customer count surged 79% year-over-year to 143 customers at the end of its fourth-quarter. Palantir generated adjusted free cash flow of $76 million. Investors could also be bidding shares of Palantir higher because Karp talked up the potential of its artificial intelligence capabilities on the company's earnings conference call,on even the smallest mention of the nascent space.
"The widespread adoption of artificial intelligence in civilian applications will come soon. In the military context, it has already arrived," Karp wrote.
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