Palantir Technologies Inc. (PLTR) Stock Price & How to Invest
Last updated July 2026
Short answer
You can invest in Palantir (PLTR) by buying shares or fractional shares at any major broker, through an ETF that holds it, or as one holding in a thematic basket. Palantir provides data-integration, analytics, and AI software through Gotham (government), Foundry (commercial), Apollo (deployment), and the newer Artificial Intelligence Platform (AIP). It pairs a durable, hard-to-replicate US defense and intelligence franchise with fast-growing AIP-driven commercial revenue, so PLTR is a high-conviction, narrative-driven AI software name carrying one of the richest valuations in software.
PLTR stock price
As of 2026-07-24, Palantir Technologies Inc. (PLTR) last closed at $122.92, down 22.6% over the past year. Over the past 52 weeks it has traded between $107.27 and $207.18.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Palantir Technologies Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Palantir Technologies Inc. (PLTR) do?
Palantir Technologies provides data integration, analytics, and AI software to government and commercial customers. The company organizes around three main platforms. Gotham is the original government-focused platform used for intelligence, defense, and law enforcement analytics. Foundry is the commercial counterpart used for enterprise data integration and analytics. Apollo is the deployment platform that ships the above to customers' environments (cloud or on-premises). The newer Artificial Intelligence Platform (AIP) layers generative AI workflows on top of Gotham and Foundry data, allowing customers to build AI agents on their own proprietary data.
Government revenue (primarily US Department of Defense and intelligence community) was historically the larger segment. Commercial revenue has grown faster recently driven by AIP. Founded in 2003 by Peter Thiel, Alex Karp, Stephen Cohen, Joe Lonsdale, and Nathan Gettings. Co-headquartered in Denver, Colorado and Washington, DC. Alex Karp is CEO.
What's driving Palantir Technologies Inc. (PLTR)?
1. AIP-driven commercial expansion.
The Artificial Intelligence Platform (AIP) has driven faster commercial customer acquisition than Palantir achieved through Foundry alone. Commercial revenue has grown above 50% year over year. AIP's value proposition is that customers can deploy AI workflows on their proprietary data without rebuilding infrastructure.
2. US government and defense.
Palantir is one of the larger software vendors to the US Department of Defense and intelligence community. The relationship is multi-decade and difficult for competitors to replicate. Defense modernization spending is a structural tailwind.
3. International government expansion.
Palantir has been actively expanding government relationships internationally, including UK NHS contracts and various NATO and allied defense customers. International government revenue is smaller than US but growing.
4. Founder-led, long-time-horizon management.
Alex Karp and Peter Thiel have been involved since the founding. Management decisions tend to be long-horizon, occasionally controversial, and aligned with the founders' strategic worldview. This is a feature for long-term shareholders but creates governance risk if the founders' priorities diverge from public-market interests.
What are the risks to Palantir Technologies Inc. (PLTR)?
The valuation reflects extraordinary expectations for AIP-driven growth and is among the highest in software. Any AIP customer acquisition deceleration would compress the multiple sharply. Government revenue concentration with the DoD creates contract renewal risk.
How is Palantir Technologies Inc. (PLTR) valued? (approximate, early 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Palantir Technologies Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$3.5 billion
- Operating margin: ~25% (non-GAAP); GAAP is lower
- Net income (TTM): ~$700 million (GAAP)
- EPS (TTM): ~$0.30
- P/E (TTM): ~300x (GAAP); much higher than typical software
- Price to sales: ~80x
- Dividend yield: None
- Free cash flow: ~$1.5 billion annually
- Commercial revenue growth: 50%+ year over year
Palantir trades at one of the highest valuations in software by virtually any metric. The premium reflects the AIP-driven growth story, the durable government revenue base, and the rule-of-40 financials. The multiple is sensitive to any growth deceleration; downside risk is substantial if AIP momentum slows.
Which ETFs hold Palantir Technologies Inc. (PLTR)?
If you want PLTR exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.
| ETF | Name | % in PLTR | Expense ratio | |
|---|---|---|---|---|
| BULZ | MicroSectors Solactive FANG Innovation 3X Leveraged ETNs | 6.69% | 0.95% | |
| AIQ | Global X Artificial Intelligence & Technology ETF | ~3.1% | 0.68% | |
| IGV | iShares Expanded Tech-Software Sector ETF | ~7.0% | 0.39% | |
| ARKK | ARK Innovation ETF | ~5% | ~0.75% | |
| SHLD | Global X Defense Tech ETF | ~7.8% | 0.50% | |
| TECL | Direxion Daily Technology Bull 3X Shares | Approximately 3% | Approximately 0.94% | |
| ARKQ | ARK Autonomous Technology & Robotics ETF | ~3.6% | 0.75% |
What themes does Palantir Technologies Inc. (PLTR) fit?
These are the investment theses PLTR naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.
Defense and modernization
One of the largest software vendors to the US DoD and intelligence community; durable government revenue base.
Enterprise software
Data and AI platform with commercial revenue growing above 50% on the Artificial Intelligence Platform (AIP).
AI agents
Palantir pushes agentic capability into operational decisions at large enterprises and governments through its AIP platform.
Who competes with Palantir Technologies Inc. (PLTR)?
Enterprise data platforms
Snowflake competes in cloud data warehousing and analytics, though with a different architectural model (Snowflake is data infrastructure; Palantir bundles infrastructure with applications and AI). Databricks competes more directly in data + AI platforms, particularly in commercial markets.
Government and defense software
Booz Allen Hamilton, Lockheed Martin (Sikorsky and broader software), Raytheon, and other defense primes provide overlapping software services. SAIC and General Dynamics offer government IT services. Direct competition for Gotham specifically is limited.
Generative AI platforms
Microsoft (Azure AI, Copilot Studio), Google Cloud (Vertex AI), AWS (Bedrock), and various AI infrastructure platforms compete for AI workflow deployment. Palantir's differentiator is its embedded position in customer data infrastructure, particularly in government.
What stocks are similar to Palantir Technologies Inc. (PLTR)?
Other names that show up alongside PLTR in the same themes. Worth a look if you're thinking about diversification within a single thesis rather than concentration on one ticker.
Also fits Enterprise software. Largest enterprise software franchise: Microsoft 365, Azure, Dynamics, and the Copilot platform.
Also fits Enterprise software. Google Cloud and Workspace are the second-largest enterprise software platform by revenue.
Also fits Enterprise software. Workflow platform with durable 20%+ growth, ~120% net retention, and active AI agent product expansion.
Also fits Defense and modernization. Body cameras, TASERs, and digital evidence platform serving law enforcement and emerging private security.
How to invest in Palantir Technologies Inc. (PLTR)
There are three common ways to get PLTR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (BULZ, AIQ, IGV), which spreads the position across many companies. Or build it into a focused thematic basket, so PLTR sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where PLTR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Palantir Technologies Inc. (PLTR)
Palantir (PLTR) blends a multi-decade US government and defense base with above-50% commercial growth from AIP, founder-led management, and rule-of-40 financials. In a portfolio it behaves as a high-multiple, high-volatility AI-software and defense-modernization position where the extreme valuation makes shares acutely sensitive to any AIP growth deceleration, so position sizing matters.
More on Palantir Technologies Inc. (PLTR)
Whether PLTR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is PLTR a buy?, and where the stock could go from here in the PLTR stock forecast.
For income investors, whether PLTR pays a dividend and how the payout looks is covered in does PLTR pay a dividend? And to weigh PLTR against a peer, read the full side-by-side comparisons: PLTR vs MSFT and PLTR vs GOOGL.
Build a basket around PLTR with Walnut
Use Palantir Technologies Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What is Palantir's ticker symbol?
+
PLTR, listed on Nasdaq. Officially Palantir Technologies Inc. Founded 2003 by Peter Thiel, Alex Karp, Stephen Cohen, Joe Lonsdale, and Nathan Gettings. Co-headquartered in Denver, Colorado and Washington, DC. Went public via direct listing in 2020.
Who are Palantir's competitors?
+
By segment. Enterprise data platforms: Snowflake (data infrastructure), Databricks (data + AI). Government and defense software: Booz Allen, Lockheed Martin, Raytheon, SAIC. Generative AI platforms: Microsoft Azure AI, Google Cloud Vertex AI, AWS Bedrock. Palantir's differentiator is its embedded position in customer data infrastructure, particularly in government.
Why is Palantir's stock so expensive?
+
Premium reflects extraordinary commercial revenue growth driven by the Artificial Intelligence Platform (AIP), the durable US government revenue base, and the rule-of-40 financial profile (revenue growth plus operating margin). The valuation embeds high expectations for AIP momentum to continue; any deceleration would compress the multiple sharply.
What is Palantir's P/E ratio?
+
Approximately 300x trailing twelve months on GAAP earnings as of early 2026; the forward P/E is lower as earnings continue to scale. By traditional valuation metrics, Palantir is among the most expensive large-cap software stocks. Bull case is that AIP-driven growth justifies the multiple over time; bear case is that the multiple must compress at some point.
What does Palantir do?
+
Palantir provides data integration, analytics, and AI software to government and commercial customers. Three main platforms: Gotham (government), Foundry (commercial), and Apollo (deployment). The newer Artificial Intelligence Platform (AIP) layers generative AI workflows on top, allowing customers to build AI agents on proprietary data.
Who owns the most Palantir stock?
+
Co-founders Peter Thiel and Alex Karp retain meaningful personal stakes. Institutional holders include Vanguard, BlackRock, and various AI-focused funds. Insider ownership is meaningful, particularly through founder shareholdings, which is unusual for a company of Palantir's size.
Is Palantir an AI stock?
+
Yes, prominently. The Artificial Intelligence Platform (AIP) is the central commercial growth driver, with revenue growing above 50% year over year. PLTR has been one of the most-bought 'AI software' names by retail investors in 2024-2025. The narrative-driven valuation reflects extraordinary expectations for AI agent deployment in enterprise and government.
Which ETFs have the most Palantir exposure?
+
VGT (Vanguard Information Technology) and XLK (Technology Select Sector SPDR) hold PLTR at meaningful weight as one of the largest US software companies by market cap. QQQ holds PLTR at ~1.5%. VOO holds it at ~0.7%. IGV (software-specific) holds PLTR at higher concentration. AI-themed ETFs like BOTZ and ROBO hold PLTR at meaningful weights.
Which thematic baskets typically include Palantir?
+
Two themes on Walnut. Enterprise software (data and AI platform; rule-of-40 profile) and Defense and modernization (one of the largest software vendors to the US DoD and intelligence community). PLTR's dual exposure makes it a common position in both AI-focused and defense-focused baskets.
How much of QQQ is Palantir?
+
Approximately 1.5% as of early 2026. PLTR was added to the Nasdaq-100 (which QQQ tracks) in December 2024 after meaningful market cap growth. In VOO, the weight is ~0.7%. The weights have grown materially as PLTR market cap has appreciated through 2024-2025.
Is Palantir in the S&P 500?
+
Yes. PLTR was added to the S&P 500 in September 2024 after meaningful market cap growth and improved profitability. It is now consistently a top-50 S&P 500 holding by market cap, having been one of the largest recent additions to the index.
What is Palantir's market cap?
+
Approximately $200 billion as of early 2026. Market cap has grown by an order of magnitude from 2022 lows on the AIP-driven re-rating and addition to the S&P 500 and Nasdaq-100. PLTR is now one of the larger US software companies by market cap despite being much smaller by revenue than peers.
Does Palantir pay a dividend?
+
No. Palantir has not paid a dividend historically. Capital has been prioritized for continued investment in product development plus opportunistic share buybacks. Given the growth-focused capital allocation, dividend initiation is unlikely in the near term.
Should I own Palantir directly or through an AI ETF?
+
Direct PLTR gives concentrated exposure to AIP commercial growth and the government revenue durability. AI-themed ETFs (BOTZ, ROBO) include PLTR at meaningful weights but bundle it with many other AI exposures. Many Walnut users hold PLTR directly given the conviction-driven nature of the position; the high multiple makes position sizing important.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Palantir Technologies Inc.'s investor relations page or your broker before making investment decisions.