AI Stocks Shine. Palantir Rallies 23%; BigBear.ai Jumps 10%; SoundHound AI Rises 7%
Tiger Newspress02-04
AI stocks gained in Tuesday's trading. Palantir rose 23%; BigBear.ai rallied 10%; SoundHound AI up 7%; C3.ai jumped 6%.
Palantir Technologies Inc. reported stronger-than-expected fourth-quarter results and guidance driven by AI.
Palantir posted adjusted earnings of 14 cents per share and $828 million in revenue. That topped the 11 cents per share and revenues of $776 million expected by analysts polled by LSEG.
Palantir also issued upbeat guidance for the current quarter and full year. In the first quarter, the company forecast revenues between $858 million and $862 million. The LSEG estimate called for $799 million. The company projects sales of $3.74 billion to $3.76 billion, ahead of a $3.52 billion estimate.
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