Palantir Technologies Inc (NYSE:PLTR) shares are trading marginally higher by roughly 1.06% to $14.29 Friday morning, recovering following marked weakness during Thursday’s session.
Shares of several tech stocks, including PLTR, initially traded higher in sympathy with NVIDIA during Wednesday’s after-hours session, which reported strong second-quarter financial results and third-quarter guidance. Tech stocks otherwise fell amid overall market weakness during Thursday’s session.
Palantir Technologies is known for its AI-driven data analytics platforms. NVIDIA’s robust AI performance signals advancements in AI technologies, potentially enhancing Palantir’s ability to deliver more accurate and sophisticated data analysis solutions.
Investors might view NVIDIA’s success as an indicator of improved data analytics capabilities, leading to increased demand for Palantir’s platforms and services.
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What’s Going On With Nvidia?
NVIDIA did not disappoint investors Wednesday with second-quarter earnings that are well ahead of expectations thanks to the strong momentum imparted by its positioning in hot-and-happening artificial intelligence technology.
Reflecting the strength, Data Center revenue rose to a record and accounted for roughly two-thirds of the total. The company issued third-quarter revenue guidance of $16 billion, more than $3 billion above what the Street was expecting…Read More
According to data from Benzinga Pro, PLTR has a 52-week high of $20.24 and a 52-week low of $5.92.
