Why Palantir Technologies (PLTR) Went Up on Wednesday

We recently published a list of These 10 Firms Topped Wednesday’s Trading. In this article, we are going to take a look at where Palantir Technologies Inc. (NASDAQ:PLTR) stands against other firms that topped Wednesday’s trading.

Wall Street’s major indices rebounded anew on Wednesday as worries about tariff policies and the Federal Reserve’s independence tapered off after President Donald Trump assured that he had no intentions of ousting Jerome Powell.

The Nasdaq surged by 2.5 percent, the S&P 500 rose by 1.67 percent, while the Dow Jones increased by 1.07 percent.

Ten companies mirrored the broader market optimism as optimistic investors resumed pouring funds into their stocks. In this article, we have identified Wednesday’s 10 best-performing stocks during the intra-day trading and detailed the reasons behind their strong performance.

To come up with the list, we considered only the stocks with more than $2 billion in market capitalization and $5 million in intraday trading volume.

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

Palantir Technologies Inc. (NASDAQ:PLTR)

Palantir Technologies Inc. (NASDAQ:PLTR) saw its share prices rally by as much as 10.2 percent at intraday trading on Wednesday before closing the day just up by 7.27 percent at $100.82 apiece, as investors cheered news that it partnered with Google to integrate its cloud into the former’s FedStart initiative.

Leigh Palmer, vice president for technology, delivery, and operations at Google’s public sector, said in a statement that the collaboration aims to enhance the delivery of services to US government agencies while upholding the highest security and compliance standards.

Anthropic, Google’s generative artificial intelligence startup, was said to 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 10th on our list of firms that topped Wednesday’s trading. 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.