Palantir Technologies Inc. ($PLTR) has seen its stock price surge, reaching $81.50 in pre-market trading, following the announcement of a contract expansion worth $37 million. This news has led to a significant increase in the company's market capitalization, with estimates suggesting an addition of $10 billion to its valuation. The stock's performance has been described as 'insane' by market observers, with its price-to-sales (P/S) ratio now at 73x. Despite the high valuation, Palantir is one of the few profitable AI companies, with its stock having risen 14 times in the past two years. The company is expected to be added to the Nasdaq 100 index on Friday, further fueling its growth.