Alex Karp, CEO of Palantir Technologies, speaks on a panel titled Power, Purpose, and the Recent American Century on the Hill and Valley Forum on the U.S. Capitol on April 30, 2025 in Washington, DC.
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Palantir has hit one other major milestone in its meteoric stock rise. It’s now one among the 20 most dear U.S. corporations.
The provider of software and data analytics technology to defense agencies saw its stock rise about 3% on Friday to a different record, lifting the corporate’s market cap to $375 billion, which puts it ahead of Home Depot and Procter & Gamble. The corporate’s market value was already higher than Bank of America and Coca-Cola.
Palantir has greater than doubled in value this 12 months as investors ramp up bets on the corporate’s artificial intelligence business and closer ties to the U.S. government. Since its founding in 2003 by Peter Thiel, CEO Alex Karp and others, the corporate has steadily accrued a growing list of consumers.
Revenue in Palantir’s U.S. government business increased 45% to $373 million in its most up-to-date quarter, while total sales rose 39% to $884 million. The corporate next reports results on Aug. 4.
Earlier this 12 months, Palantir soared ahead of Salesforce, IBM and Cisco into the highest 10 U.S. tech corporations by market cap.
Buying the stock at these levels requires investors to pay hefty multiples. Palantir currently trades for 273 times forward earnings, in accordance with FactSet. The one other company in the highest 20 with a triple-digit ratio is Tesla at 175.
With $3.1 billion in total revenue over the past 12 months, Palantir is a fraction the scale of the subsequent smallest company by sales among the many top 20 by market cap. Mastercard, which is valued at $518 billion, is closest with sales over the past 4 quarters of roughly $29 billion.
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