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Palantir Shares Surge on Strong AI-Driven Revenue Outlook

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Palantir’s shares soared more than 18% in premarket trading, following a forecast of upbeat annual revenue driven by the growing demand for its data analytics services, particularly from businesses eager to adopt generative AI technologies. The company’s market capitalization is set to increase by about $35 billion, based on current share prices of $99.31.

The firm’s platform, AIP, has seen strong growth as businesses accelerate investments in AI, utilizing the platform to test, debug, and evaluate AI scenarios. Russ Mould, an Investment Director at AJ Bell, remarked that Palantir is capitalizing on the AI wave, with industries making substantial technological investments.

Palantir’s co-founder Peter Thiel’s company is now viewed as a major player in the AI sector. Matt Britzman, Senior Equity Analyst at Hargreaves Lansdown, compared Palantir’s AI success to Michael Jordan’s dominance in basketball, describing the company as a leader delivering game-winning results.

Palantir’s Chief Revenue Officer, Ryan Taylor, reiterated that the company would discourage commercial clients from using DeepSeek’s AI models but would continue to work with those who opt for them. U.S. officials are currently reviewing the national security implications of DeepSeek, with concerns raised by White House press secretary Karoline Leavitt.

Additionally, Taylor noted that new tariffs imposed by U.S. President Donald Trump could further boost demand for Palantir’s analytics services, especially in supply chain and logistics management.

Following the announcement, at least nine analysts raised their price targets for Palantir, with Morgan Stanley upgrading its rating from ‘underweight’ to ‘equalweight,’ recognizing Palantir as a significant player in the AI space.

 

Mitsubishi Heavy Sees Strong Gas Turbine Demand Despite AI Advances

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Mitsubishi Heavy Industries (MHI) expects continued strong demand for gas turbines, even if data centers require less electricity due to more efficient AI models such as China’s DeepSeek. Chief Financial Officer Hisato Kozawa stated that while DeepSeek’s performance remains unproven, it does not alter the broader trend of rising global power consumption.

Kozawa also noted that last week’s market sell-off, driven by DeepSeek’s emergence, led to MHI being traded as an AI-related stock for the first time, a development he found notable.

On Tuesday, MHI reported record third-quarter earnings and raised its annual profit forecast for the financial year ending in March. The company now expects a net profit of 240 billion yen ($1.55 billion), an increase of over 8% from its previous guidance, driven by strong gas turbine sales for power plants.

MHI’s stock has more than doubled in the past year, supported by growing demand for jets, naval ships, and missiles amid Japan’s defense expansion. However, its shares closed at 2,218 yen on Tuesday, down 0.6% from the previous day, while the Nikkei 225 index rose by 0.7%.

 

Salesforce to Cut Over 1,000 Jobs While Expanding AI Workforce

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Salesforce is set to cut over 1,000 jobs as part of a strategic shift to focus more on selling artificial intelligence products. Despite the layoffs, the company will offer displaced employees the opportunity to apply for other positions within the organization, according to a report by Bloomberg News. The specific departments impacted by the layoffs have not been disclosed.

As of January 31, 2024, Salesforce employed 72,682 people, and the latest cuts come after a series of similar actions in recent months. In December 2023, CEO Marc Benioff highlighted the success of “Agentforce,” the company’s platform for AI-powered virtual agents, which secured over 1,000 paid deals. Earlier reports from January 2024 and July 2024 indicated smaller rounds of job cuts, including 700 and 300 roles, respectively.

Salesforce is actively hiring to bolster its workforce in AI sales, aiming to capitalize on growing demand for AI-driven solutions. The company is scheduled to report its quarterly earnings on February 26, 2025.