Nebius Rises 6% as Palantir Names It Preferred Sovereign AI Partner; Palantir Stock Slips

Palantir Technologies (PLTR) reported 93% year-over-year revenue growth in Q2, with U.S. commercial business growing 149%. CEO Alex Karp set a target for the company to grow at least 134% over the next 18 months, which would require significant acceleration in growth rates across all segments. The company's current guidance for full-year growth is 82%.

Palantir and Nebius have partnered to offer AI services without relying on third-party cloud providers. Palantir reported a 36% net profit margin, $1.63B net income in FY2025, and 93% YOY sales growth. Nebius saw 454% YOY revenue growth and $82.5M net income in FY2025. The collaboration aims to reduce costs and improve compliance with data regulations, with Nebius shares rising 8% post-announcement.

Nvidia's CEO Jensen Huang highlighted cybersecurity as the next major growth area for AI, projecting a 70% revenue surge for Nvidia by fiscal 2027. He emphasized Nvidia's partnerships with CrowdStrike, Cisco, and Palantir. Nvidia's stock fell 2.5%, while CrowdStrike and Palo Alto Networks rose slightly, and Palantir declined 2%.

Palantir (PLTR) and Nvidia (NVDA) are partnering to integrate their AI platforms for governments and businesses. The collaboration combines Nvidia's Nemotron models with Palantir's Foundry and AIP, aiming to enhance supply chain operations. The partnership could expand Palantir's market reach and Nvidia's influence in AI infrastructure, though financial details were not disclosed.

Rackspace Technology (RXT) partnered with Nvidia (NVDA) and Palantir (PLTR) to create a sovereign AI product for enterprises and governments. The collaboration combines Nvidia's Blackwell chips, Palantir's software, and Rackspace's managed infrastructure. RXT stock is down 3.55% at $3.12, while NVDA and PLTR offer exposure to the sovereign-AI theme.

Palantir (PLTR) and Nvidia (NVDA) have partnered to apply AI to supply-chain operations. Nvidia will use the system, combining Palantir's Foundry and AI Platform with Nvidia's Nemotron models, to manage its own supply chain. The framework is also intended for other organizations and can run on cloud services or private infrastructure. The initial deployment at Nvidia could serve as a test case for broader adoption.