Alex Karp, CEO of Palantir Applied sciences, speaks on a panel titled Energy, Function, and the New American Century on the Hill and Valley Discussion board on the U.S. Capitol on April 30, 2025 in Washington, DC.
Kevin Dietsch | Getty Pictures
Palantir has hit one other main milestone in its meteoric inventory rise. It is now one of many 20 most respected U.S. corporations.
The supplier of software program and knowledge analytics know-how to protection companies noticed its inventory rise greater than 2% on Friday to a different report, lifting the corporate’s market cap to $375 billion, which places it forward of Residence Depot and Procter & Gamble. The corporate’s market worth was already larger than Financial institution of America and Coca-Cola.
Palantir has greater than doubled in worth this yr as buyers ramp up bets on the corporate’s synthetic intelligence enterprise and nearer ties to the U.S. authorities. Since its founding in 2003 by Peter Thiel, CEO Alex Karp and others, the corporate has steadily accrued a rising checklist of consumers.
Income in Palantir’s U.S. authorities enterprise elevated 45% to $373 million in its most up-to-date quarter, whereas whole gross sales rose 39% to $884 million. The corporate subsequent reviews outcomes on Aug. 4.
Earlier this yr, Palantir soared forward of Salesforce, IBM and Cisco into the highest 10 U.S. tech corporations by market cap.
Shopping for the inventory at these ranges requires buyers to pay hefty multiples. Palantir at the moment trades for 273 instances ahead earnings, in response to FactSet. The one different firm within the high 20 with a triple-digit ratio is Tesla at 175.
With $3.1 billion in whole income over the previous yr, Palantir is a fraction the scale of the subsequent smallest firm by gross sales among the many high 20 by market cap. Mastercard, which is valued at $518 billion, is closest with gross sales over the previous 4 quarters of roughly $29 billion.
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