Palantir Technologies exceeded Wall Street expectations in the second quarter, generating about $1.004 billion in revenue—its first billion-dollar quarter—and adjusted earnings of $0.16 a share. Revenue grew almost 48% from a year earlier, with U.S. commercial sales rising 93% and government sales up 53%, as companies and agencies expanded use of the firm’s artificial-intelligence software. The Denver-based company lifted its full-year revenue forecast to between $4.14 billion and $4.15 billion and projected the strongest sequential growth in its history for the current quarter. Chief Executive Officer Alex Karp said the results reflected the “astonishing impact of AI leverage” across Palantir’s product suite. Investors cheered the numbers: the shares jumped as much as 8% in early New York trading Tuesday to a record above $170, putting Palantir’s market value over $415 billion and extending the stock’s 12-month gain to more than 600%. Analysts moved quickly to recalibrate their views. Deutsche Bank upgraded the stock to Hold and doubled its price target to $160, while UBS, Morgan Stanley and Bank of America lifted their targets to $155–$180. Wedbush kept an Outperform rating and raised its target to $200, with analyst Dan Ives calling Palantir the “Messi of AI.” Television commentator Jim Cramer echoed the bullish tone, saying the shares could also reach $200.