Palantir shares jump on upbeat revenue outlook as businesses adopt AI

(Reuters) – Palantir shares rallied over 18% in premarket trading after it forecast upbeat annual revenue fueled by strong demand for its software and data analytics services from businesses racing to adopt generative AI.

Palantir, which provides services to governments such as software that visualizes army positions, is set to gain about $35 billion in market capitalization, at current share price levels of $99.31.

“It’s yet another company to be riding the AI wave, benefiting from…