FILE PHOTO: Signage for Palantir is seen during the Association of the United States Army annual meeting and exposition at the Walter E. Washington Convention Center in Washington, U.S., October 14, 2024. REUTERS/Nathan Howard/File Photo
(Reuters) -Palantir Technologies raised its annual sales forecast on Monday, although its inline profit and a modest revenue beat disappointed investors who were expecting more from the AI-focused data and analytics firm, driving its shares down 8% in extended trading.
The stock has been one of the biggest gainers of a rally in AI-linked shares, rising more than 60% this year, as investors placed huge bets on its ability to benefit from widescale AI deployments and increased government spending on defense-related tech.
