00:00Palantir rising double digits in pre-market trading.
00:02Second quarter sales described as quote otherworldly, far exceeding Wall Street estimates
00:07and leading Palantir to raise revenue and income forecasts for the year.
00:11Bloomberg's Neil Camping joins us now.
00:13Alex Karp, colourful as always Neil, but where is this demand coming from?
00:17Certain countries are trying to get away from Palantir it seems.
00:22Yeah, it's true.
00:23I think the key reassurance is that Palantir was seen as a threat from the dual wave of
00:30AI frontier models potentially displacing some of the software tool sets.
00:34But Palantir's tools clearly are in much demand.
00:37And so you can see that coming through in the fact that they managed to grow their revenue
00:42line for the 12th consecutive quarter of accelerating growth.
00:4793% year on year is stunning by any metrics.
00:50So clearly wherever they are being potentially displaced in some places, there is demand
00:55that's more than offsetting any kind of upset from that.
00:57But it's a simply stunning set of results.
01:00And if we break out commercial versus sovereign and so on, Neil, what do we find?
01:06Yeah, so we find that obviously, as he mentioned himself, otherworldly with the demand from commercial.
01:13And I think that's where really if you look at in terms of the expectations going ahead,
01:18then as far as you're looking to understand how you can use these tool sets, it's really
01:23commercial.
01:24It's going to drive the acceleration going forward, I think.
01:27So that's clearly been taken well this morning, as you mentioned, the pre-market.
01:32Don't forget, the stock had declined by 40% from its highs seen in November into the print.
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