Palantir Hits $1B Revenue Milestone as Government Contracts Surge

Palantir Technologies Inc. soared to a record close after smashing revenue expectations, with quarterly sales surpassing $1 billion for the first time. The data analytics firm's 48% year-over-year growth was fueled by expanding government contracts, including a potential $10 billion Army deal and a $30 million ICE project for migrant tracking systems.

Meanwhile, broader markets faltered as Trump's tariff threats and cooling economic indicators rattled traders. The Dow Jones surrendered 61.90 points after its 600-point rebound, reflecting persistent labor market concerns following Friday's disappointing jobs report.

Palantir's performance stands in stark contrast to the market's anxiety, demonstrating how specialized tech firms with government ties can thrive amid economic uncertainty. The company's strategic pivot toward institutional contracts appears to be paying dividends, creating a predictable revenue pipeline that investors reward.