Palantir stock rose about 10% in Friday morning trading, reaching around $158, after Dell Technologies reported a strong quarter and validated a partnership announced earlier in May. Dell delivered Q1 FY2027 revenue of $43.84 billion, a large beat versus estimates, and drove major growth in AI-optimized server revenue, alongside substantial AI orders and higher full-year guidance. The partnership brings Palantir Foundry and AIP to Dell’s AI Factory with NVIDIA, using Dell ObjectScale and PowerFlex, and includes Rubix and Apollo for zero-trust runtime targeting sovereign, defense, and regulated workloads. Snowflake’s earnings also contributed by triggering a wider software and AI platform rally, with revenue growth, earnings beats, and raised product guidance.
"Shares of Palantir ( NASDAQ:PLTR | PLTR Price Prediction) are up 10% in Friday morning trading, changing hands near $158. The pop follows a blockbuster quarter from Dell Technologies ( NYSE:DELL), reported Thursday evening, that validated a high-profile partnership the two companies unveiled earlier this month. Even with today's rally, Palantir stock is still down 12% year to date (YTD), so this looks more like a recovery leg than a clean breakout. The catalyst is unusual because it lives inside someone else's earnings report rather than Palantir's own results."
"Dell reported Q1 FY2027 revenue of $43.84 billion, beating estimates by 23% and growing 88% year over year (YoY). Non-GAAP EPS came in at $4.86 versus a $2.96 consensus, a 64% beat. AI-optimized server revenue jumped 757% YoY to $16.13 billion. The company also booked $24.4 billion in AI orders during the quarter and raised full-year FY27 AI server revenue guidance to approximately $60 billion. DELL stock is up 29% today, trading near $409."
"That matters for Palantir because the two companies unveiled a deep tie-up at Dell Technologies World on May 18. Palantir's Foundry and AIP platforms are coming on-premises to the Dell AI Factory with NVIDIA ( NASDAQ:NVDA), with the Ontology layer running on Dell ObjectScale and PowerFlex storage. Palantir Rubix and Apollo handle the zero-trust runtime layer, targeting sovereign, defense, and regulated workloads."
"Snowflake reported Q1 FY27 revenue of $1.39 billion, up 34% YoY, with non-GAAP EPS of $0.39 beating by 22%. The company raised its full-year product revenue guidance to $5.84 billion, a 31% growth pace, and disclosed more than 13,600 accounts using its AI capabilities. CEO Sridhar Ramas"
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