Palantir CEO Alex Karp speaks during an interview on July 27, 2026 in New York City. Palantir stock skyrocketed 29.5% on Tuesday after the company reported "otherworldly" second-quarter earnings driven by customer demand for AI sovereign tools. Shares narrowly missed their best day ever, when the stock gained 30.8% on Feb. 6, 2024. The company expects full-year revenue between $8.15 billion and $8.158 and commercial revenue in excess of $3.424 billion. Palantir's Co-founder and CEO Alex Karp described the quarter as "otherworldly," adding that the sovereign AI revolution makes them "very optimistic about the future."