Palantir Technologies closed Friday at $172.01, giving the artificial intelligence software company a market capitalization of about $413 billion. With roughly 2.4 billion shares outstanding, a $500 billion valuation implies a stock price of about $208, which is less than 1% above the stock's all-time high of $207.52 set in early November. The company's second-quarter revenue surged 93% year over year to $1.94 billion, driven by a 149% jump in U.S. commercial revenue, while GAAP net income reached $1.06 billion. Full-year revenue guidance was raised to approximately $8.15 billion, and the adjusted free cash flow target increased to a range of $4.5 billion to $4.7 billion. At the current valuation, the stock trades at about 51 times guided 2026 sales and roughly 90 times expected 2025 adjusted free cash flow.
