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Palantir Shares Surge Nearly 9% After Raising Revenue Forecast on Strong AI Demand

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Palantir Technologies (PLTR.O) shares jumped nearly 9% in early trading Tuesday after the company raised its annual revenue forecast for the second time this year. The data analytics and defense software firm is benefiting from strong demand for its AI-driven services across governments and enterprises.

Palantir’s stock has doubled this year and climbed more than 600% over the past three years, making it the top performer on the S&P 500 through the last close. Jacob Falkencrone, Saxo’s global head of investment strategy, said Palantir is evolving from a government vendor into an essential partner for enterprises in the AI revolution.

Wedbush analysts project Palantir could reach a $1 trillion market capitalization within the next few years, up from $379.14 billion as of the latest close. Co-founded by Peter Thiel in 2003 and publicly listed in 2020, Palantir has secured multiple U.S. government contracts this year, including a $30 million deal with Immigration and Customs Enforcement.

The Trump administration’s renewed focus on national security has fueled growth, with the U.S. Army indicating it may spend up to $10 billion on Palantir’s services over the next decade. Sales to the U.S. government surged 53% in Q2 to $426 million, accounting for over 42% of Palantir’s roughly $1 billion total revenue for the quarter.

Valuation Concerns:
Despite its rapid growth, some analysts warn Palantir’s valuation is extremely high, trading at more than 200 times 12-month forward earnings—far above AI peer Nvidia’s multiple of 34.81. Morningstar analysts noted the company’s robust competitive advantages but cautioned that the valuation is increasingly difficult to justify.

Palantir also expects higher expenses in Q3 due to seasonal hiring amid competition for AI talent from major tech firms. Nevertheless, at least eleven brokerages raised their price targets on the stock following the earnings release.

White House Reviews SpaceX Contracts Amid Trump-Musk Feud

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The White House has directed the Defense Department and NASA to review billions of dollars worth of contracts held by SpaceX following a public conflict between President Donald Trump and Elon Musk, sources told Reuters. This review aims to prepare the administration for potential retaliatory actions against Musk’s companies.

Pentagon officials are also weighing whether to reduce SpaceX’s involvement in a new U.S. missile defense system. Currently, SpaceX holds roughly $22 billion in federal contracts, but it is unclear if any cancellations are imminent.

The review stems from Trump’s recent threat to terminate business and subsidies for Musk ventures during their spat. When asked about Musk’s contracts, a White House spokesperson cited a commitment to a rigorous review process for all bids and contracts. NASA confirmed it will continue working with industry partners to meet presidential space objectives.

Sources describe the contract scrutiny as a political move intended to give the administration flexibility should Trump decide to act. Musk, who formerly served as a senior advisor to Trump and led the Department of Government Efficiency (DOGE), has been at odds with the president after publicly calling for his impeachment and linking him to a convicted sex offender.

Experts warn that politicizing such contracts risks undermining national security and public interest. Scott Amey, from the Project on Government Oversight, noted the irony of Musk’s contracts undergoing political scrutiny similar to what his DOGE team imposed on others. He emphasized that contract decisions should prioritize public and security interests over personal disputes.

SpaceX plays a vital role in U.S. aerospace and defense, launching satellites and cargo, and managing NASA’s Dragon spacecraft—the sole U.S. vehicle currently capable of ferrying astronauts to the International Space Station. The company also builds a classified network of spy satellites for the National Reconnaissance Office, strengthening its ties with U.S. defense and intelligence agencies.

Despite recent tensions, SpaceX remains a critical partner to the government, highlighting the complex balance between politics and strategic partnerships in national security.

Eutelsat Meets Revenue Forecasts as OneWeb Gains Government Clients Amid Geopolitical Shifts

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Eutelsat reported €300 million in third-quarter revenue for its 2024–25 fiscal year, slightly below last year’s figure but in line with analyst expectations. The French satellite operator, which owns OneWeb, the world’s second-largest low-Earth orbit (LEO) satellite constellation, is seeing a rise in government demand for secure, non-American and non-Chinese satellite services.

Key Financials:

  • Q3 revenue fell 1.9% year-on-year

  • Analyst consensus was €302 million, with estimates ranging from €294 million to €307 million

  • Government services revenue rose 10.2%, the fastest-growing segment, fueled by geopolitical demand for independent satellite connectivity

Strategic Positioning:

Eutelsat’s OneWeb network, with over 600 LEO satellites, offers secure broadband services to governments and militaries at approximately 1,200 km altitude. This positions it as a European alternative to SpaceX’s Starlink, which has over 7,000 satellites and deep traction with commercial clients.

Eutelsat CFO Christophe Caudrelier emphasized the strategic importance of non-U.S. and non-Chinese alternatives in satellite communication:

“With the current geopolitics, there is interest from many countries… Many non-aligned countries are seeking alternative, non-American, non-Chinese solutions,” he stated.

Challenges & Developments:

  • The company experienced a drop in its U.S. Department of Defense contract renewal rate to 50%, citing structural changes in U.S. spending under President Donald Trump’s administration. Without that one-off, the renewal rate would have been closer to 70%.

  • Eutelsat also took a €16 million revenue hit due to EU sanctions requiring the cessation of Russian channel broadcasts.

  • The firm is actively seeking new capital investors to support its future financing needs.

Despite the recent CEO replacement, Eutelsat reaffirmed its full-year outlook, signaling stability in operations as it navigates market transitions and growing demand for secure satellite services from non-aligned nations.