Palantir Shares Jump 7.3% as Snowflake AI Growth Confirms Enterprise Adoption Wave

Palantir Technologies (PLTR) shares surged 7.3% on Thursday after Snowflake’s first-quarter report validated the enterprise AI adoption thesis that Palantir anchored its recent guidance to. Snowflake disclosed its AI customer count leaped to 13,600 from 9,100 in the prior quarter, signaling a shift from experimentation to scaled deployment on proprietary data. Palantir’s own May 4 results showed total revenue of $1.63 billion, up 85% year-over-year, with U.S. commercial revenue soaring 133% to $595 million. Full-year guidance was raised to $7.65–$7.66 billion, implying 71% growth. The simultaneous strength of both data platforms weakens the “AI Ghost Trade” narrative that AI spending would bypass enterprise software. Palantir shares remain 15% lower year-to-date at $142.74, still 31% below their November 2025 peak of $207.18.