海外科技行业周报：Palantir AI布局详解；ARM业绩超预期但指引平淡

Investment Rating - The report maintains a "Positive" rating for the overseas technology sector, particularly highlighting Palantir's AI advancements and ARM's performance [2] Core Views Palantir AI Expansion - Palantir has developed a comprehensive AI platform, AIP, which leverages its expertise in data analytics to enhance large language model (LLM) reliability and provide functionalities like predictive planning, early warning systems, and Copilot features [2] - The company's AI strategy is supported by its deep technical expertise, high customization capabilities, and strong government partnerships, which have accelerated its commercial client growth in North America [2] - Since the launch of AIP in 2023, Palantir's US commercial client base has grown to 321 clients by FY24Q3, with an average revenue per user (ARPU) exceeding $3 million [2] - AIP Bootcamps have trained over 1,025 clients globally, significantly boosting client acquisition and AI adoption [2] ARM Performance - ARM's FY25Q2 revenue reached $844 million, exceeding expectations of $811 million, driven by a 23% YoY increase in royalty revenue to a record $514 million [3] - The adoption of Armv9 architecture contributed to 25% of royalty revenue, up from 10% YoY, with smartphone-related royalty revenue growing 40% YoY [3] - Despite strong performance, ARM's guidance for FY25Q3 is modest, with revenue expected to be between $920 million to $970 million, reflecting a 12%-18% YoY growth [3] - ARM's CSS (Compute Subsystems) licensing has doubled, supporting faster time-to-market for clients in data centers and smartphones [28] Sector Performance - The US stock market saw a broad rally following the presidential election and Federal Reserve rate cuts, with Tesla surging 29% and NVIDIA gaining 9%, reaching a market cap of $3.6 trillion [4] - Key indices like the Nasdaq and S&P 500 rose by 5.74% and 4.66%, respectively, year-to-date [31] Industry Applications of Palantir AIP - Palantir's AIP platform has been deployed across multiple industries, including aerospace, automotive, energy, and healthcare, offering solutions like predictive maintenance, inventory optimization, and real-time customer intelligence [8][13] - The platform's ability to integrate and analyze multi-source heterogeneous data has been a key driver of its adoption, particularly in sectors requiring high data security and customization [9][14]