This Part of Palantir Used to Be "Backwater," Says Alex Karp. Now, It's Supercharging Growth.

Core Insights - Palantir Technologies has experienced remarkable growth, with its stock increasing by 1,700% over the past three years, driven by double-digit revenue gains and record profits [1][2] Business Overview - Palantir develops software systems that aggregate customer data, facilitating decision-making and strategy development, with a key product being the Artificial Intelligence Platform (AIP) [4] - The company has transitioned from primarily relying on government contracts to significantly increasing its U.S. commercial customer base, growing from 14 customers five years ago to 571 today [5][6] Financial Performance - In the latest quarter, U.S. commercial revenue surged by 137% to $507 million, with total contract value reaching a record $1.3 billion [5] - The U.S. commercial business has more than doubled in just one year, indicating strong demand for AI solutions in the corporate sector [8] Growth Potential - The current number of U.S. commercial customers still presents ample room for growth, with existing customers expanding their contracts and new contracts being substantial in size [9] - The momentum in the commercial business is expected to continue, benefiting Palantir shareholders in the future [9]