Palantir Technologies saw its stock price reach $182.39, with a market cap of $432.51 billion. Despite having less revenue, it outperformed Salesforce. Palantir’s Q2 revenue was $1.03 billion, with a 48% increase YoY, and net income rose 144%. The company secured a $950 million contract with the UK Ministry of Defence, signaling growth in defense, health, and police AI integration.

The UK contract is part of a larger £1.5 billion investment drive through 2030, creating 350 new jobs. Palantir’s move aligns with strengthening Western AI ties amidst eased export restrictions by the Trump administration. Wall Street has responded positively, with shares up 19% in Q3 and estimated full-year sales exceeding $4.14 billion.

Palantir’s success reflects a shift in U.S. strategy towards AI expansion. With growing international government income and notable UK contract, the company is thriving. Despite competition from Salesforce, Palantir’s risk/reward profile and focus on defense set it apart in the market. As the AI arms race intensifies, software becomes crucial alongside hardware.

Read more at Yahoo Finance: Salesforce CEO Praises Palantir as it Closes $950M UK Defense Deal