Palantir Technologies (NASDAQ:PLTR) closed at $157.88, up 6.85% after record Q4 growth and strong AI-driven demand. Trading volume reached 111.3 million shares, 139% above the three-month average. The stock has grown 1,562% since its 2020 IPO.

The S&P 500 fell 0.85% to 6,917, and the Nasdaq Composite declined 1.43% to 23,255. Microsoft closed at $411.21 (-2.87%) and Oracle finished at $154.6 (-3.41%) as investors considered AI infrastructure spending.

Palantir’s revenue soared 70% year over year, with U.S. commercial sales up 137%. Analysts upgraded the stock, setting price targets as high as $235 per share, believing the company’s growth justifies its valuation. Investors are optimistic about sustained revenue expansion.

The Motley Fool Stock Advisor didn’t list Palantir Technologies among the 10 best stocks to buy now. The advisor’s total average return is 932%, outperforming the S&P 500 by 735%. Join the investing community for more insights and recommendations.

Read more at Nasdaq: Stock Market Today, Feb. 3: Palantir Technologies Surges After Record Revenue Growth and Strong AI Demand