OpenAI names former Army secretary Driscoll to national security role
Dan Driscoll will advise the company's leadership and work with outside partners on AI applications for national security and cybersecurity.
Palantir lifts annual revenue outlook as quarterly forecast tops estimates
Third-quarter revenue increased about 96% to $2.31 billion, while shares rose 1.5% in volatile extended trading.
Palantir Technologies on November 2 projected revenue of $2.649 billion to $2.653 billion for the fourth quarter, surpassing Wall Street expectations amid strong demand from U.S. government and commercial customers for its data analytics software.
The company also increased its full-year revenue forecast to $8.530 billion to $8.534 billion. Its previous outlook called for $8.150 billion to $8.158 billion. The fourth-quarter projection compares with an average analyst estimate of $2.46 billion in data compiled by LSEG.
For the third quarter, Palantir reported $2.31 billion in revenue, an increase of about 96%, compared with estimates of $2.18 billion. CEO Alex Karp said in a shareholder letter that the business had essentially doubled from the corresponding quarter a year earlier.
Palantir's software combines data from different sources for analysis. Customers are seeking more control over data and AI models to protect sensitive information and preserve their competitive position. The company's shares were last trading 1.5% higher in a volatile extended session.