Palantir raises 2024 revenue forecast on robust AI adoption
Palantir Technologies has raised its annual revenue forecast for the third time, driven by strong spending from governments and rising demand for its software services. The company now expects 2024 revenue in a range of $2.805 billion to $2.809 billion, up from its prior expectation of $2.742 billion to $2.750 billion. Palantir has benefited from the boom in AI technology and has seen its shares rise more than 140% this year. It also recorded its largest-ever profit in the third quarter. However, concerns have been raised about the company's work for Israel, leading to the sale of its holdings by one of its investors.