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Post by : Badri Ariffin
Frankfurt — Palantir Technologies, the US-based AI and data analytics company, opened sharply lower on Tuesday in Frankfurt, dropping almost 6% despite releasing upbeat quarterly figures.
The firm, which has more than doubled its market value this year, put forward fourth-quarter revenue guidance that topped analyst forecasts. Executives pointed to heightened adoption of artificial intelligence across sectors as the main engine behind increased demand for Palantir’s cloud analytics and software products.
At 07:05 GMT, Palantir shares were down about 5.8%, as investors took a cautious stance following a lengthy run-up that lifted the company’s valuation. Other large tech stocks listed in Frankfurt also eased, with names such as Meta, Tesla, Alphabet, Amazon, Nvidia, Apple and Microsoft slipping between 0.9% and 2.6%. Nasdaq futures suggested US markets were set for a lower open, down roughly 1.3%.
Market analysts say the pullback likely reflects short-term profit-taking and a broader market correction as investors reassess lofty valuations. Still, Palantir remains well positioned to benefit from the surge in AI-driven usage that has supported its growth this year.
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