Palantir Technologies Inc. (NYSE: PLTR)

Palantir builds data analytics software for governments and large enterprises, with a particular focus on defense and intelligence applications. Revenue is about $2.2 billion and growing 20%+ annually. The company's two main platforms — Gotham (government) and Foundry (commercial) — help organizations integrate and analyze massive, messy datasets. Palantir's AI Platform (AIP), launched in 2023, has become the primary growth catalyst. The stock has been one of the best performers in the market since its 2020 direct listing.

Software subscriptions and services, with government contracts (U.S. and allied nations) accounting for roughly 55% of revenue and commercial customers the rest. Contracts tend to be large, multi-year, and expand over time. The go-to-market motion has shifted from expensive, hands-on deployments to a more scalable "boot camp" model that lets customers see value quickly.

Peter Thiel, Alex Karp, and others founded Palantir in 2003, initially funded by the CIA's venture arm In-Q-Tel. The company operated in near-secrecy for years, working with intelligence agencies and special operations forces. Palantir went public via direct listing in September 2020. The AIP launch in 2023 and subsequent commercial acceleration transformed the growth narrative and sent the stock soaring.