Palantir said today that its quarterly revenue nearly doubled and boosted its outlook, and investors are noticing.

The stock is the best performer on the Nasdaq-100 today, as well as the most active one.

CEO Alex Karp described the company's second-quarter results as "otherworldly," and said "demand for AI sovereignty has now been unleashed."

He explained: "Our customers trust us to provide them with maximal control over their operations, data and decisions. Their competitive advantage should never become the training data for future models."

Despite today's rally, Palantir stock is still down roughly 14% year-to-date. Its stock has taken a beating from fears that newer AI techology could leave the data-analytics company in the dust, a narrative Karp has vehemently pushed back on.