TLDR
- PLTR was up 2.42% in premarket trading Wednesday, reaching $119.49
- Palantir announced a sovereign AI partnership with Nvidia to deliver AI models for U.S. government agencies
- The company also expanded its commercial deal with Surf Air Mobility to accelerate SurfOS development
- President Trump’s financial disclosure revealed he holds at least $1 million in Palantir stock
- Despite the gains, PLTR remains down ~30% year-to-date and sits below all major moving averages
Palantir Technologies (PLTR) was up 2.42% in premarket trading Wednesday, hitting $119.49, after a pair of deal announcements dropped Tuesday and a high-profile name showed up on the shareholder list.
Palantir Technologies Inc., PLTR
The stock has had a rough 2026, down roughly 30% year-to-date, so any positive news is getting attention.
The first announcement was a sovereign AI partnership with Nvidia. The deal is designed to deliver an intelligent engine that runs Nvidia’s AI and Nemotron open models inside secure, sovereign environments â aimed at U.S. government agencies and critical infrastructure.
The integration pulls together Nvidia’s AI platform with Palantir’s AIP, Ontology, Foundry, and Apollo products.
Palantir CEO Alex Karp said the combination would “allow the U.S. government to unleash the full power of LLMs while removing the underlying security risks.” Nvidia CEO Jensen Huang called it a demonstration of “how open models can strengthen America’s leadership in AI.”
Surf Air Mobility Deal Expanded
The second move was an expansion of Palantir’s existing commercial deal with Surf Air Mobility. Palantir committed more engineering and go-to-market resources to speed up development of SurfOS, which runs on AIP and Foundry.
Ted Mabrey, Global Head of Commercial at Palantir, said the platform gives them “a clear opportunity to build and define the central operating system for the future of aviation and air mobility.”
Trump Disclosure Adds a Spark
Adding fuel to the day’s move was President Trump’s latest financial disclosure, filed with the U.S. Office of Government Ethics on Tuesday.
The filing shows Trump holds at least $1 million in Palantir, along with at least $5 million each in Apple and Nvidia. It lists 418 publicly traded holdings in total.
It’s not a massive position, but having a sitting president publicly listed as a shareholder tends to move markets.
On the fundamentals side, Palantir posted Q1 revenue of $1.63 billion, beating Wall Street’s $1.54 billion estimate. The company remains profitable, debt-free, and generating solid free cash flow.
Despite that, the technical picture remains weak. PLTR is trading 6.7% below its 20-day moving average, 11.8% below its 50-day, and 24.6% below its 200-day. A death cross â where the 50-day SMA crosses below the 200-day â was confirmed back in February.
‘Big Short’ investor Michael Burry also has a known short position in PLTR, alongside Tesla and Nvidia.
Wall Street holds a Moderate Buy consensus on the stock, with the bear case centered on valuation and potential risk to certain U.K. government contracts.
The Trump disclosure and the Nvidia deal were filed Tuesday. PLTR was trading at $119.49 in Wednesday premarket, up 2.42%.
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