Palantir Stock Climbs As Wall Street Eyes New Artificial Intelligence Customers At AIPCon

Palantir Technologies hosts its sixth artificial intelligence conference for customers on Thursday amid a sudden gloom for AI stocks on Wall Street. Palantir stock climbed on Wednesday as analysts focused on potential new customers such as Walgreens and others previewed in a news release.

"Looking at our Palantir commercial tracker, there were nine logos included in the announcement that we previously were not aware of, compared with three logos for prior AIPCon that took place in September," said William Blair analyst Louie DiPalma in a report. "These new logos include Walgreens, which recently announced it is being taken private; hospital revenue cycle management provider R1 RCM; investment holding company TWG Global; private equity provider KKR; unmanned surface vessel manufacturer Saildrone; aerospace propulsion provider Ursa Major; Delta Air Lines; Heineken; document software provider Ripcord; and gasoline chain operator RaceTrac."

DiPalma added: "Palantir on its (fourth quarter) earnings call conveyed that one of America's largest pharmacies recently signed a $67 million engagement for load-balancing prescription fulfillment and orchestrating patient outreach. It is not clear whether this $67 million contract was for Walgreens or CVS, which also appears to be an unannounced Palantir customer based on our tracker."

On the stock market today Palantir stock gained 7.2% to close at 83.65.

Palantir has provided data analytics tools to government customers for intelligence gathering, counterterrorism and military purposes. Now Palantir aims to use generative AI to spur growth in the U.S. commercial market.

PLTR Stock: March Swoon

Amid the recent stock market volatility, Palantir stock has gained 3% in 2025. Palantir stock hit its all-time intraday high of 125.41 on Feb. 19 and closed at 112.06 that day. Shares have retreated nearly 35% from that high. Institutional ownership of Palantir stock has weakened.

The company rolled out its "Artificial Intelligence Platform," in early 2023. Palantir hosted its fifth AIPCon event in September.

However, Palantir has not disclosed pricing for AI products. Some analysts say Palantir needs to show more revenue progress with generative AI commercial deployments.

Palantir stock has a 21-day ATR of 12.45%.

The average true range is a metric available on IBD's MarketSurge charting tool. It gauges the characteristic breadth of a stock's behavior. Stocks that tend to make large jumps or dives in daily action, the kind that can trigger sell rules and shake investors out of a stock, have a high ATR. Stocks that tend to make more incremental moves have lower ATRs.

In the current, unpredictable market, IBD suggests stocks with ATRs of 3 or below.

Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.