Palantir raises annual revenue forecast on strong demand from US government, commercial customers

Aug 3 : Palantir Technologies on Monday raised its annual revenue forecast again, signaling strong demand for its data analytics software from government and commercial clients.Shares of the company rose 8 per cent in extending trading.Palantir now expects annual revenue between $8.150 billion and $8.158 billion, up from its prior forecast of $7.650 billion to $7.662 billion. "Our business is compounding at a rate and scale that we have never before witnessed," CEO Alex Karp said in a letter to shareholders. Modern warfare and geopolitical uncertainty have forced governments to invest in advanced defense technologies such as Palantir's AI-powered battlefield software and Anduril's autonomous drones.Founded in 2003, Palantir offers tools including its Artificial Intelligence Platform (AIP)