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Palantir, the powerful data and AI company with deep ties to US national security bodies, has won a multi-billion-dollar contract to run US Army software and data.

A key coincident indicator tells us that Palantir Technologies Inc.'s ecosystem is rapidly growing., highlighted by key partner growth and a major $10B U.S. Army deal boosting long-term government revenue prospects. The up to $10 billion over 10 years deal with the US Army can provide a massive structural lift to U.S. Government growth CAGRs. I think Palantir tends to low-ball on guidance and outperform Wall St expectations. So I expect another strong performance in Q2 FY25 with beats all around.

My bull case for Palantir Technologies Inc. is now centered on the government segment after the $10 billion U.S. Army deal, as commercial growth lags outside the U.S. The commercial segment, particularly non-U.S., is underperforming when compared to the government unit, with anemic adoption in Europe. In Q1, non-U.S. commercial revenue declined 5% YOY and 11% sequentially, while non-U.S. government revenue grew 45% YOY and 2% sequentially.

The 2025 Q2 earnings season keeps chugging along this week, with a notable number of companies on the reporting docket. Among the bunch are several Mag 7 members, with several other heavyweights also reporting.

Through the artificial intelligence (AI) boom over the past few years, Nvidia has gotten a lot of attention (rightfully so in many cases), but many would be surprised to see that its stock hasn't been the biggest beneficiary. That would be Palantir (PLTR -0.29%), which is up over 2,300% -- more than double Nvidia's gains in that span.

Palantir has inked a contract with the U.S. Army worth up to $10 billion over the next decade. The agreement provides purchasing flexibility and removes contract-related fees and procurement timelines, the Army said.

Expectations are high for Palantir stock, which continues to hold near all-time highs ahead of its Q2 earnings report.

Palantir (PLTR -2.17%) stock is in the red in Friday's trading despite trimming some of its early losses in the session. The company's share price was down 2% at 11 a.m.

Marley Kayden previews A.I. software company Palantir (PLTR) ahead of next week's earnings report.

Palantir Technologies (PLTR -4.19%) has been one of the best-performing stocks over the past few years. The stock has more than doubled in 2025 and is up over 800% since the start of 2024.