Artificial intelligence development boosted shares of Palantir, it’s predicts the time and place of future crimes
14.02.24
Shares of the American technology company Palantir rose sharply by 19% after the release of the financial report for the fourth quarter of 2023. The company exceeded analysts’ expectations for revenue in the context of growing demand for artificial intelligence solutions.
Palantir’s fourth-quarter revenue increased 20% to $608.4 million. Net income was $93.4 million, up from $30.9 million last year.
Palantir CEO Alex Karp highlighted the sharp growth in demand for AI technology in the United States. The company completed approximately 600 pilot projects based on its AIP platform in 2023, compared to less than 100 in 2022.
Palantir forecasts revenue of $612-616 million for the current quarter and $2,65-2,67 billion for the end of the year. These figures coincide with analysts’ consensus forecasts.
With four consecutive quarters of consistent performance, Palantir now meets the criteria for inclusion in the S&P 500 Index.
Palantir was opened in 2004 by PayPal founder Peter Thiel. The company received initial funding from the CIA’s venture capital division. The startup’s software predicts the time and place of future crimes, analyzes the movements of criminals, recognizes future lawbreakers, and more.
Don't miss interesting news
Subscribe to our channels and read announcements of high-tech news, tes
Oppo A6 Pro smartphone review: ambitious
0 
Creating new mid-range smartphones is no easy task. Manufacturers have to balance performance, camera capabilities, displays, and the overall cost impact of each component. How the new Oppo A6 Pro balances these factors is discussed in our review.
Sony WF-1000XM6 Bluetooth headphones review: full power
0 
The new Sony WF-1000XM6 headphones have slightly changed their shape compared to their predecessor, received a new processor, an improved noise cancellation system, more microphones, and generally made a noticeable step forward technically.
Apple increases prices for Apple Music and Apple One subscriptions: what has changed
Apple has raised the cost of Apple Music and Apple One subscriptions. Find out the latest prices and details of changes for different tariff plans.
Red screen on Galaxy S26 Ultra: what you need to know about the innovative Privacy Display defect
Owners of the Samsung Galaxy S26 Ultra experienced an unpleasant red tint appearing on their displays after several months of use. Let’s figure out what the cause of the defect is, why it undermines confidence in the Privacy Display function, and what are the chances of correcting the situation.