By George Glover
Palantir Technologies stock was headed for yet another record on Thursday. It's a reflection of just how bullish investors are feeling right now.
The company said Thursday that it had agreed a strategic partnership with The Nuclear Company, which deploys nuclear power, to develop an AI-driven software system built for nuclear reactors.
Shares in the analytics software company climbed 2.8% to $146.96 in early trading. If those gains hold, Palantir would finish the session above its all-time closing high of $143.23, which it reached Tuesday.
Palantir has surged 89% already this year, powered higher by the artificial-intelligence investing frenzy that has been lifting the broader market since late 2022. At an eye-watering 246-times projected 2025 earnings, the stock looks significantly overvalued -- but that might not catch up with it for a while.
The Nasdaq 100 just hit an all-time high of its own, and the S&P 500 is on the brink of repeating the feat. Investors have shrugged off the geopolitical crisis in the Middle East and are starting to bet on Federal Reserve interest-rate cuts, which tend to be good news for growth stocks like Palantir.
All of that suggests the stellar run isn't over just yet.
Write to George Glover at george.glover@dowjones.com
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June 26, 2025 09:52 ET (13:52 GMT)
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