Palantir's Stock Soars as Trump Administration Expands AI Integration in Federal Agencies

Palantir Is Surging. The Stock Leads Nasdaq Gains So Far This Year as Federal Work Expands

With Friday's gains, the stock has surged nearly 70% this year and leads Nasdaq 100 companies so far in 2025. Palantir (PLTR) shares climbed Friday amid optimism about the AI darling's expanding work for the U.S. government. The stock was up over 5% in recent trading, making it one of the day's best-performing stocks in the S&P 500. The stock has surged 70% this year, leading the Nasdaq 100's constituents so far in 2025. Palantir's gains have come as its work for the federal government has grown in recent months. The government has integrated a Palantir product called Foundry into at least four agencies, including the Department of Homeland Security and the Health and Human Services Department, The New York Times reported Friday. Officials at the Social Security Administration and Internal Revenue Service have also had discussions with Palantir about buying its technology, the report said. Palantir did not immediately respond to a request for comment, nor did the SSA or IRS. Earlier this week, Fannie Mae, the government-sponsored mortgage backer, announced the launch of an AI-powered crime detection unit in partnership with Palantir. Fannie Mae claimed the unit would help prevent millions of dollars in fraud losses by helping detect fraud "with speed and precision never before seen in the U.S. housing market."

Palantir Stock Gains As Trump Expands Company's Role in US Government Agencies - Palantir Technologies (NASDAQ:PLTR)

Palantir Technologies PLTR stock surged on Friday amid reports indicating the Trump administration has expanded the company's work across the federal government in recent months. Palantir is also discussing buying its technology with the Social Security Administration and the Internal Revenue Service (IRS), the New York Times reported on Friday, citing six government officials and Palantir employees familiar with the matter. According to the report, Palantir has secured more than $113 million in contracts (new and additional funds from existing) since Trump took office. This does not include the $795 million DoD contract awarfed last week. Also Read: Tech Analyst Expects Palantir Stock To Rise Above $400 As AI Revolution Kicks Into Gear In March, President Trump signed an executive order directing federal agencies to enhance data sharing, effectively introducing Palantir's key platform, Foundry, to at least four agencies, including DHS and the Department of Health and Human Services. The Trump administration has also pursued access to various data points on citizens and others through government databases and bank accounts, the report said. Palantir's government contracts span the Defense Department and Centers for Disease Control and Prevention. Palantir stock has 75% year-to-date and 504% in the last 12 months. Palantir is in discussions for a permanent contract with the IRS after joining them in April to organize data, the New York Times cited government officials familiar with the matter. Palantir also recently began helping Immigration and Customs Enforcement's enforcement and removal operations team under a $30 million deal they inked in April, the New York Times cited Palantir employees and DHS officials familiar with the matter. Palantir also discussed organizing the Social Security Administration and the Department of Education's data, the New York Times reported, citing Palantir employees and officials in those agencies. Price Action: PLTR stock is up 3.51% at $126.80 at last check Friday. Read Next: Alibaba And Baidu Turn To Chinese AI Chips As US Sanctions Squeeze Nvidia Supply Photo via Shutterstock PLTRPalantir Technologies Inc$126.753.62%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum99.27Growth97.43QualityNot AvailableValue2.64Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs