Palantir raises yearly revenue forecast to $3.89B-$3.9B, sees strong growth in AI software.

Palantir Technologies raised its full-year revenue forecast to between $3.89 billion and $3.9 billion, up from a previous range of $3.74 billion to $3.76 billion. The increase follows strong Q1 results, with revenue up 39% year-over-year to $884 million. Despite the upbeat outlook, shares dipped in extended trading. The company attributes its growth to increased demand for its AI software, especially in the U.S. government sector. Palantir's stock has surged 64% this year and nearly 400% over the past 12 months.