Palantir's US Commercial Revenue Surges Past Government for First Time

U.S. commercial revenue at Palantir jumped 148% to $984 million in the third quarter, overtaking U.S. government revenue of $953 million for the first time. Company revenue nearly doubled year‑over‑year, breaking the $2 billion mark for the first time. Net income more than doubled to $1.13 billion, or 44 cents per share, up from $476 million (18 cents). Shares fell about 2% in after‑hours trading. CEO Alex Karp told CNBC that the results are unprecedented for software AI and noted the business is succeeding without salespeople. Over the past two years, U.S. commercial revenue has more than quintupled. Palantir lifted its full‑year outlook, now expecting U.S. commercial revenue “in excess of” $3.56 billion, up from the earlier $3.42 billion target. The firm also forecast about $2.65 billion for the fourth quarter and $8.53 billion for full‑year 2026. Karp reiterated his push for nationalising AI labs, calling it the only realistic way to manage liability, and criticised major AI labs for forcing firms to give up data sovereignty. Earlier in September he joined other tech CEOs at the White House as regulators discussed AI risks.

Context

Palantir’s shift toward commercial AI contracts shows growing corporate demand for its tools, while the CEO’s call for nationalisation reflects mounting policy debate over AI safety and data control.