Why Palantir Technologies Inc. (PLTR) Soared Last Week

We recently published a list of Why These 10 Firms Recorded Double-Digit Gains Last Week. In this article, we are going to take a look at where Palantir Technologies Inc. (NASDAQ:PLTR) stands against other firms that recorded double-digit gains last week.

Ten companies finished the past trading week on a high note, outperforming the three major indices with double-digit gains amid a flurry of catalysts, including upcoming earnings releases, that sparked buying appetite.

Week-on-week, the Nasdaq rallied by 6.7 percent, the S&P 500 clocked in a 4.59-percent gain, while the Dow Jones was up by 2.48 percent.

In this article, we have listed last week’s top 10 performing stocks and detailed the reasons behind their gains. The stocks were chosen based on the highest percentage increase in closing prices on April 25 as against their prices on April 17, or the week prior.

To come up with the list, we considered only the companies with a $2-billion market capitalization and a $5-million trading volume.

A software engineer manipulating a vast network of code on virtual monitors.

Palantir Technologies Inc. (NASDAQ:PLTR)

Palantir Technologies rallied by 20.26 percent week-on-week to close at $112.78 on Friday versus the $93.78 registered on April 17 as investors cheered its partnership with Google to enhance the delivery of services to US government agencies.

In a statement earlier in the week, Leigh Palmer, vice president for technology, delivery, and operations at Google’s public sector, said that the company partnered with Palantir Technologies Inc. (NASDAQ:PLTR) to integrate its Google Cloud in the latter’s FedStart initiative.

The collaboration ultimately aims to beef up government services while upholding the highest security and compliance standards.

Google’s generative artificial intelligence startup, Anthropic, will be the first software company to use the new capability. Its Claude for Enterprise application will be available to federal government agencies through Palantir Technologies Inc. (NASDAQ:PLTR) FedStart on Google Cloud.

“By partnering with industry leaders to bring cutting-edge technologies to the US government, Google can accelerate public sector mission impact and outcomes,” Palmer said.

Overall, PLTR ranks 8th on our list of firms that recorded double-digit gains last week. While we acknowledge the potential of PLTR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PLTR but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.