Palantir Technologies raised its annual revenue forecast on Monday and said it would buy back shares worth up to US$1 billion as the data analytics software maker enjoys"unprecedented demand" for its artificial intelligence platform.
In a letter to shareholders, CEO Alexander Karp said the platform has users across over 100 organizations, including from automotive and healthcare industries, and that Palantir was in talks with more than 300 additional companies. Palantir is ramping up its AI platform and hiring"a new class of technical talent", which would push up its expenses in the third quarter, Chief Financial Officer David Glazer said in a interview.
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