The Company Raised Its Full-year Revenue Outlook From About $7.65 Billion to Roughly $8.15 Billion, and Its Stock Rose

Palantir CEO Alex Karp said frontier AI labs "deserve to colonize your enterprise, repeating his critique during the company's Q2 earnings call. Palantir reported a 93% year-over-year revenue increase, with US commercial revenue up 149%. The company raised its full-year revenue outlook from about $7.65 billion to roughly $8.15 billion, and its stock rose about 15% in after-hours trading.

Karp linked growth to enterprises seeking "AI sovereignty, or retaining control over their data and workflows. He accused companies of "tokenmaxxing, or "token self-pleasuring, by handing data to AI providers for little return. Palantir, which doesn't build frontier models but sells software connecting them to enterprise data, has made sovereign AI a recurring theme. Analyst Jacbon Bourne of Emarketer noted Palantir is the clearest counterexample to claims that enterprise AI doesn't scale, though questions remain about whether AI could collapse the software layer Palantir occupies.