Palantir shares slip as German defence‑cloud plan stalls

Palantir Technologies' stock traded at €114.58, reflecting a price‑to‑earnings multiple of about 155 despite reporting roughly 85 % revenue growth. The high valuation has not translated into sustained investor enthusiasm, with private investors withdrawing funds. Adding pressure, Germany’s Bundeswehr announced it will not participate in the nation’s defence‑cloud initiative, curbing a potential source of business for Palantir in the European defence sector.

The combination of a soaring P/E ratio and the German defence decision has created a disconnect between the company's operational momentum and its market price, limiting the brief tail‑wind from broader tech‑sector gains.