Palantir technologies I have just reached a milestone that would have failed even for its brave promoters a year ago: a First billion dollar quarterDriven by an outstanding boom in artificial intelligence, which is now fundamentally changing the way the company works – and how many employees consider it necessary.
The software and data analysis giant generated a turnover of $ 1 billion in the last quarter, an increase of 48% compared to the previous year, since it dramatically exceeded the Wall Street estimates and recorded both in commercial and government contracts. The US sales alone rose 68% to $ 733 million, with domestic business turnover jumping by 93%. The profit also increased by $ 327 million, and Palantir increased its outlook for the year and predicted sales of $ 4.14 billion up to $ 4.15 billion.
The evaluation of the company “Rule of 40″-a significant measure of growth as well as the profit clamping hats according to Karp, an almost opposite 94%”again wiped out the metric”. Palantir managers made it clear that there is a main source for these new productivity levels: artificial intelligence that appears in every layer of its business and quickly automate the tasks that once needed armies of highly paid coders and IT employees.
CEO Alex Karp was both in the profit layer and in his shareholder, especially in the profit and loss account. “This was a phenomenal quarter,” he wrote in the publication publication. “We continue to see the amazing effects of the AI leverage.”
In A The following appearance on CNBCKarp said: “We plan to increase our income … at the same time reduce our number of people” and described what Ki enables his company. “This is a crazy, efficient revolution. The aim is to achieve 10 times income and have 3,600 people. We now have 4,100.” Karp also determined the company’s goals on the winning call with analysts and explains that it does not carry out mass layoffs, but will freeze the setting and rely on AI to multiply the productivity of each employee. This was already underway: the company in March Cut off his IT workforce From 200 to less than 80 full -time employees.
Earnings sound round round
Karp and other Palantir executives celebrated their amazing quarter with the analyst call and said that the tailor -made models from Palantir maximize the effects of large voice models. “LLMS just don’t work in the real world without Palantir,” said Ryan Taylor, Chief Revenue Officer. “This is the reality that drives our growth.”
Taylor discussed how Palantir is flourishing, where other companies have not yet seen the return on investment from AI. “LLMs are at best a jagged intelligence that is divorced even fundamentally,” said Taylor in Comments reported by Business Insider. “At one moment they seem to exceed people in a problem -solving task, but in the next they make catastrophic mistakes that no one would ever make.”
The Chief Technology Officer Shyam Sankar said that “twenty years of grinding have built up a unique moat and a massive lead”. He also claimed that “AI hands over the American workers’ super powers” and reported examples that can be seen on the AI racing summit in DC, of examples such as an intensive sister, a factory worker, a hospital administrator and a Battery maintenance technician for electric vehicles.
Karp was so optimistic about Palantir’s special employment of AI technology that he made a challenge for university and elite institutions such as the Ivy League. All previous registration information for success is worthless, he suggested. “If you have not gone to school or have gone to a school that is not so great, or you went to Harvard, Princeton or Yale, you are a Palantirian case when you have come to Palantir – you are nobody about the other things,” said Karp. He added that the environment in Palantir differs from what most workers experienced: “Most of them come from the university, where they have just involved plattitudes.”
Karp told CNBC that he wanted to contact unions as a pure industrization, and argues that the salaries of workers on the workers are able. “This is an America story,” he said. Another statement by Karp: “Just tell the Hasern: read it and cry.”
“Palantir clearly benefits from the dynamics of the AI industry in its state and commercial customer base”, ” Described William Blair analysts. In the meantime Bank of America Research repeated his merchanting and expects growth to continue, since Palantir “still remains the best in the class for the introduction and introduction of AI in companies”.
For this story, Assets Used generative AI to help with a first draft. An editor checked the accuracy of the information before publication.
