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Alex Karp - 1 Peter Thiel - 1 Ryan Taylor - 1 Reuters Palantir - 1 Karp - 1
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☆ Palantir raises annual revenue forecast on AI strength; shares surge
  + stars: | 2024-08-05 | by ( ) www.cnbc.com   time to read: +2 min
Alex Karp, CEO of Palantir Technologies poses beside the company's logo ahead of an interview with Reuters in the Alpine resort of Davos, Switzerland May 23, 2022. Palantir Technologies raised its annual revenue forecast for the second time this year on Monday, the latest sign that the generative AI boom is driving demand for its software services. The company co-founded by billionaire Peter Thiel now expects annual revenue between $2.74 billion and $2.75 billion, compared with $2.68 billion to $2.69 billion expected earlier. It also raised its annual revenue expectation from U.S.-based companies by $11 million, to $672 million. The company forecast third-quarter revenue between $697 million and $701 million, compared to analysts' average estimate of $679.1 million, according to LSEG data.
Persons: Alex Karp, Peter Thiel, Ryan Taylor, Reuters Palantir, Karp Organizations: Palantir Technologies, Reuters, Big Tech, Microsoft, Palantir Locations: Davos, Switzerland
☆ Palantir cuts around 2% of its workforce
  + stars: | 2023-02-27 | by ( ) www.reuters.com   time to read: +1 min
Feb 27 (Reuters) - Data analytics firm Palantir Technologies (PLTR.N) said on Monday it has cut about 2% of its workforce, joining a raft of U.S. companies that have laid off thousands of workers amid an economic downturn. "To continue to evolve, we are making the tough choice of reducing teams in several areas," the company said. "While less than 2% of our workforce is impacted by these changes, these are incredibly painful decisions but the right ones for the company's future." Palantir, known for its work with the U.S. Central Intelligence Agency, had 3,838 full-time employees as of Dec. 31, 2022. Earlier this month, Palantir had also said it expects 2023 to be the company's first profitable year as it benefits from cost cuts and the artificial intelligence boom.
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