Why Palantir Rallied Over 50% in August

Shares of big data software pioneer Palantir (NASDAQ: PLTR) rallied 51.5% in August, according to data from S&P Global Market Intelligence.

Palantir became a darling of the AI era over the past couple of years, and hit a very high valuation at its peak last November. Since then, the "SaaS-pocalypse" has taken a toll on the entire software sector, including Palantir, as fears of disruption from leading AI labs cut its stock price nearly in half, from its November 2025 highs to its June 2026 lows.

The downturn set Palantir up for a bounce higher if it posted continued strong financial results. Its second-quarter August report provided that, in spades.

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