Why Palantir Technologies Stock Surged 16% to a New All-Time High in July

Published on August 18, 2025

Key Points

  • Palantir reported several new deals, adding to its growing backlog.

  • Customers continue to flock to the company's Artificial Intelligence Platform (AIP), its biggest growth driver.

  • Palantir's valuation is outrageous, but that may not matter as much over the long term.

  • 10 stocks we like better than Palantir Technologies ›

Shares of Palantir Technologies (NASDAQ: PLTR) were off to the races last month, soaring 16% in July and hitting a new all-time high, compared to just a 2.3% increase for the S&P 500, according to data provided by S&P Global Market Intelligence.

The data mining and artificial intelligence (AI) specialist announced several new contract wins, suggesting the adoption of AI continues to gain steam.

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