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Palantir delivered strong second-quarter earnings with revenue reaching $1.94 billion, a 93% year-over-year increase that significantly exceeded Wall Street's $1.8 billion forecast, sending shares up 10%. U.S. government contracts—a critical revenue stream linked to the Trump administration's immigration enforcement—grew 90% year-over-year to $809 million, even as the company faces mounting political opposition.
Why it matters: Palantir's explosive growth and heavy reliance on government contracts represent a significant business model in enterprise AI, while raising critical questions about tech industry dependence on government partnerships amid heightened political polarization.
