Palantir Surges 29.5% After $1.94 Billion Q2, Karp Attacks AI Rivals

3 articles · Updated · Yahoo Finance · Aug 4

Palantir shares jumped 29.49% to an intraday high of $164.52 on Aug. 4, marking the biggest single-day earnings reaction since the company went public.
$1.94 billion in Q2 revenue—up 92.83% year over year—helped drive the rally, with EPS of $0.41 topping a $0.346 consensus and U.S. commercial sales soaring 149% to $764 million.
Management also raised full-year 2026 revenue guidance to $8.150 billion-$8.158 billion and said U.S. commercial revenue should exceed $3.424 billion, while adjusted operating margin reached 62% and free cash flow hit $1.22 billion.
Alex Karp used the earnings moment to attack frontier AI labs, singling out Anthropic CEO Dario Amodei and arguing companies that feed proprietary data into outside models risk surrendering lasting competitive advantage.
The quarter strengthened Palantir's case that it is evolving beyond its government-heavy roots, even as investors still debate whether its AI-fueled growth can justify the stock's premium valuation.