This article first appeared on GuruFocus.
Oct 3 – Palantir Technologies (NASDAQ:PLTR) is turning heads again, not just because of the AI hype cycle, but because the company is stacking real wins that could shape its long-term growth story.
Shares of PLTR have surged more than 20% over the past month, outpacing the broader market, and the company’s latest updates show why investors are paying attention.
The biggest development came this summer when the U.S. Army signed a 10-year Enterprise Agreement with Palantir worth up to $10 billion. The deal streamlines what had been 75 separate contracts into one framework, giving Palantir both visibility and efficiency as it becomes a core software provider for the Army. While the $10 billion is a ceiling, not a guaranteed spend, the move signals confidence in Palantir’s role as a defense software partner.
At the same time, Palantir’s commercial momentum is accelerating. In Q2 2025, U.S. commercial revenue jumped 93% year-over-year to $306 million, pushing total revenue past $1 billion for the first time. The company also expanded its industrial partnerships with Boeing (NYSE:BA) and Archer Aviation (NYSE:ACHR), proving its AI platform can serve not only governments but also complex manufacturing and next-gen aviation.
That growth comes with risks. It is highly valued and trades in excess of 600x trailing earnings, and stock based compensation is an issue. But boasting a cash balance of $6 billion and zero debt, Palantir is flexible to handle dilution and remunerate shareholders in the future.
Even today, PLTR is considered a highly followed AI infrastructure player in the government, the aerospace and commercial markets, a trio relatively unmatched by competitors.
