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Data and analytics firm Palantir Technologies raised its annual sales forecast on Monday, betting on strong demand for its products that help businesses adopt generative AI technology. Still, shares of the company fell more than 2% in extended trading.
Palantir has benefited from a boom in the adoption of GenAI technology as enterprises leverage the company’s expertise in managing and analyzing data to help train and run new AI apps using its platform.
The Denver, Colorado-based company now expects revenue in fiscal year 2025 between $3.89 billion…
