Tech: AI data company Palantir continues to grow rapidly
In addition to the military and authorities, US companies are also seeking AI assistance from Palantir. This is ensuring a consistently high growth rate for the company.
Palantir, a data analysis firm known for its collaboration with US security agencies, has forecast revenue of around $2.65 billion for the current quarter, representing a 90 percent increase from the same period last year. The company's quarterly profit grew 49 percent year-over-year to $1.13 billion. Palantir's US business drove the growth, with revenues more than doubling to $1.94 billion, and government revenue rising 96 percent to $953 million.
The company's software is used by agencies such as the Department of Homeland Security and the Pentagon.
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