Since going public in 2020, the artificial intelligence software company has swung swiftly to a profit and sales are booming
Shares of Palantir Technologies sailed past previous record highs on Tuesday after booking its first US$1 billion sales quarter and raising its performance expectations for the year.
The stock rose above US$170 on Tuesday after breaking previous records four times this year in the global artificial intelligence race. The previous closing high for the stock was set this week at US$160.66.
Since going public in 2020 when it posted a US$1.17 billion annual loss, the artificial intelligence software company has swung swiftly to a profit and sales are booming. Profit rose 33 per cent to US$327 million in the second quarter.
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