Palantir Stock Surpasses $100 for the First Time... Market Cap Soars Sixfold in One Year

Surging Over 27% Intraday
Palantir Stock Price Exceeds $100 for the First Time

Palantir, a US-based artificial intelligence (AI) data analytics software company, surged on the 4th (local time) and surpassed $100 for the first time during intraday trading.

AFP Yonhap News

On that day, Palantir closed at $103.83 (159,060 KRW), up 23.99% from the previous trading day. This is the first time Palantir's stock price has exceeded $100. The stock price, which was $16.72 a year ago, has surged more than sixfold.

This sharp rise in stock price is interpreted as a result of the strong earnings announced the previous day. Palantir's Q4 revenue last year increased by 36% year-over-year to $827.5 million, and earnings per share recorded $0.14, surpassing market expectations.

Palantir provides a software platform that analyzes and visualizes vast amounts of data, helping organizations easily understand complex data and make decisions. The AI-integrated platform is provided to the US Department of Defense and collaborates with intelligence agencies such as the Central Intelligence Agency (CIA) and the Federal Bureau of Investigation (FBI).

In particular, Palantir attracted attention during the US presidential election process as Peter Thiel, the chairman, is known as a member of the 'PayPal Mafia' who helped Donald Trump win the presidency. The PayPal Mafia refers to Elon Musk, CEO of Tesla, co-founder Peter Thiel, former PayPal Vice President Reid Hoffman, former PayPal Chief Operating Officer (COO) David Sacks, and others who led the online payment company PayPal founded in the late 1990s.

Peter Thiel is known as a major Republican donor, supporting then-candidate Trump even in 2016 when Silicon Valley leaned heavily Democratic. Last year, he also led Silicon Valley's Trump fundraising events.