Palantir shares slide as AI market cools, company outlines $2.9 bn revenue plan

Palantir Technologies' stock dropped 4.3% on Friday, briefly sinking 5.4% amid a broader market sell‑off driven by concerns that the Federal Reserve may raise interest rates. The Nasdaq Composite recorded its steepest one‑day decline since April 2025, and valuations for AI‑focused firms faced renewed pressure after strong quarterly results from Broadcom and a hotter‑than‑expected jobs report.

Separately, Palantir projects revenue of about $2.87 billion by 2026, with 55% coming from government contracts, 31% from U.S. commercial customers and 14% from international commercial clients. Its product portfolio includes the Gotham platform for defense and intelligence agencies, the Foundry data‑integration platform for enterprises, and the Apollo development environment. The company follows an “Acquire‑Expand‑Scale” model, bearing pilot costs initially and aiming for positive margins in the scale phase.