Palantir, Wall Street’s leading artificial intelligence (AI) beneficiary, surged more than 5% to another record high in a day.
On Monday, Palantir’s stock surged 5.23% to $116.65 on the New York Stock Exchange, setting a new record.
As a result, its market capitalization stood at $265.7 billion, ranking it 38th among global companies and outpacing Samsung Electronics ($254.4 billion, 42nd).
Last weekend, Palantir soared about 10% on the previous trading day, setting a new record high.
This recent surge follows Palantir’s February 4 breakthrough. After reporting its earnings, the company’s stock price soared 24%, breaking the $100 barrier for the first time.
As a result, Palantir has soared 39% in the past five days, 73% in the past month, and 378% in the past year.
Palantir, an AI data company, initially worked primarily for government contracts, serving military and intelligence agencies. However, as the AI craze hit Wall Street, the company has seen a flood of orders from private sector clients, driving revenue growth and fueling its ongoing stock rally.