Why Palantir Stock Is Skyrocketing Today -- A New Trump Deal Could Be Incoming
Shares of Palantir Technologies (NASDAQ: PLTR) are surging on Tuesday. The company's stock gained 9.2% as of 1:21 p.m. ET, and was up as much as 9.6% earlier in the day. The jump comes as the S&P 500 (SNPINDEX: ^GSPC) gained 0.8% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) rose 1.7%.Palantir's stock is seeing a boost from reports that the U.S. and Saudi Arabian governments have reached a new deal that could create significant new business opportunities in the Middle East for the artificial intelligence (AI)-fueled data analytics company.Bloomberg is reporting that the Trump administration will soon announce a deal granting Saudi Arabia increased access to advanced semiconductors from American chip companies. President Trump, currently visiting Riyadh as part of a broader Middle East trip, could announce the agreement as soon as this week. A similar deal with the United Arab Emirates could follow. Continue reading
Shares of Palantir Technologies (NASDAQ: PLTR) are surging on Tuesday. The company's stock gained 9.2% as of 1:21 p.m. ET, and was up as much as 9.6% earlier in the day. The jump comes as the S&P 500 (SNPINDEX: ^GSPC) gained 0.8% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) rose 1.7%.
Palantir's stock is seeing a boost from reports that the U.S. and Saudi Arabian governments have reached a new deal that could create significant new business opportunities in the Middle East for the artificial intelligence (AI)-fueled data analytics company.
Bloomberg is reporting that the Trump administration will soon announce a deal granting Saudi Arabia increased access to advanced semiconductors from American chip companies. President Trump, currently visiting Riyadh as part of a broader Middle East trip, could announce the agreement as soon as this week. A similar deal with the United Arab Emirates could follow.
