Defense & enterprise AI software
Palantir Technologies
A defense and enterprise AI-software firm (Gotham, Foundry, AIP). Q3 2025 revenue $1.2B (+63%), US commercial +121%. A 10-year $10B Army deal and a $446M Navy ShipOS contract. In Dec 2025 it launched Chain Reaction (AI infrastructure) with NVIDIA and CenterPoint. The software demand apex of defense AI.
PLTR Updated Jul 12, 2026 5 AI consumers· 2 recurring
Per the valuechain.wiki graph, Palantir Technologies is directly linked to 3 companies (2 supply, 1 revenue relationships) and reaches 37 companies within two hops; the links are backed by 5 dated sources, 2 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · Q3 revenue $1.2B (+63%)
- Customer concentration · $10B Army deal; NVIDIA Chain Reaction.
- Segments · Government (Gotham) · Commercial (Foundry/AIP)
Revenue from
- US government · defense (Gotham · AIP) High confidence· Order value ~$10B · 2025 · 10-year Army deal
AI software to US government (Army, Navy); 10-year $10B Army deal.Confirms EN TradingView/Zacks Published Jan 1, 2026: Palantir +100% in 2025 on AIP and government deals - US commercial enterprises (Foundry · AIP) High confidence· Revenue ~$1.2B · 2025 · Q3 revenue (+63%)
Foundry/AIP to enterprises (US commercial +121%). - Voyager Technologies Medium confidence
Palantir is the exclusive supplier of enterprise software and data-management solutions for the Voyager-led Starlab space station and a minority equity partner in the Starlab JV. Contract value undisclosed.Confirms EN U.S. SEC EDGAR Published Mar 10, 2026: Voyager Technologies, Inc. Annual Report (Form 10-K) FY2025Confirms EN Voyager Technologies (press release) Published Jun 25, 2024: Starlab Space Announces Strategic Partnership with Palantir Technologies, Inc.
Pays to
- NVIDIA Medium confidence
Uses NVIDIA GPUs and the Chain Reaction AI-infra platform.Confirms EN TradingView/Zacks Published Jan 1, 2026: Palantir +100% in 2025 on AIP and government deals - Oracle Medium confidence
Runs AI workloads on OCI and other clouds. - cloud · R&D (undisclosed) Low confidence
Cloud infrastructure and engineering.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Voyager Technologies | lead1 | · | · | · | · | · | +29.8 |
| Palantir Technologies | node | -22.7 | -64.7 | +167.4 | +340.5 | +135 | -1.9 |
| NVIDIA | benef1 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.7 |
| Micron Technology | benef2 | +24.2 | -45.9 | +71.9 | -1 | +240.2 | +256.4 |
| Nan Ya PCB | benef2 | +110.6 | -46.7 | -0.5 | -38.3 | +188.2 | +172.1 |
| Nebius Group | benef2 | · | · | · | · | +202.2 | +170.5 |
| Kioxia | benef2 | · | · | · | · | +1082.1 | +155 |
| Ibiden | benef2 | +30.4 | -19.6 | +51.6 | -38.6 | +261 | +149.3 |
| Lumentum | benef2 | +11.6 | -50.7 | +0.5 | +60.1 | +339.1 | +139.1 |
| Unimicron | benef2 | +133.5 | -30.2 | +35.2 | -19.7 | +175.7 | +138.8 |
| ASE Technology | benef2 | +38.3 | -12.8 | +60.9 | +10.1 | +65.6 | +135.3 |
| Murata Manufacturing | benef2 | -14 | -11.7 | +24.7 | -16.5 | +29.9 | +131.5 |
| Astera Labs | benef2 | · | · | · | · | +25.6 | +86.6 |
| SK hynix | benef2 | -0.4 | -25.6 | +53.9 | +48.6 | +361.1 | +81.6 |
| Corning | benef2 | +5.9 | -11.6 | -1.2 | +60.6 | +87.8 | +77.2 |
| Keysight Technologies | benef2 | +56.3 | -17.2 | -7 | +1 | +26.5 | +61 |
| Samsung Electronics | benef2 | -9 | -14.2 | +20.9 | -26.4 | +212.9 | +59.7 |
| Wistron | benef2 | +7.9 | +9.7 | +272.7 | -1.6 | +22.7 | +57.3 |
| Coherent | benef2 | -10 | -48.6 | +24 | +117.6 | +94.8 | +52.7 |
| Delta Electronics | benef2 | -3.4 | +10.4 | -0.3 | +59.2 | +183.8 | +50.4 |
| Pegatron | benef2 | -5.9 | +0.6 | +35.3 | +21.2 | -23.8 | +43 |
| TSMC | benef2 | +12.1 | -36.7 | +42.3 | +92.6 | +55.9 | +41.9 |
| onsemi | benef2 | +107.5 | -8.2 | +33.9 | -24.5 | -14.1 | +37.4 |
| Monolithic Power | benef2 | +35.5 | -27.8 | +79.8 | -5.6 | +54.5 | +35.5 |
| Analog Devices | benef2 | +21 | -4.9 | +23.4 | +8.8 | +29.8 | +34.8 |
| Eoptolink | benef2 | -10.1 | -27.7 | +136.6 | +197 | +368.8 | +29.1 |
| InnoLight | benef2 | -30.7 | -18.3 | +253.7 | +12 | +468.1 | +25.6 |
| Digital Realty | benef2 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +23.4 |
| Amphenol | benef2 | +34.4 | -12.5 | +30.8 | +40.7 | +95.3 | +22.7 |
| ABB | benef2 | +23.9 | +7.3 | +18.9 | +39 | +36.1 | +18.4 |
| BlackRock | benef2 | +29.4 | -20.4 | +17.9 | +29.3 | +6.6 | +6 |
| Luxshare Precision | benef2 | -11.9 | -30.2 | -21.2 | +58.8 | +29.3 | +5.6 |
| King Yuan Electronics (KYEC) | benef2 | +26.7 | -7.7 | +132.4 | +38.6 | +171 | -6.7 |
| TE Connectivity | benef2 | +35.1 | -27.7 | +24.6 | +3.5 | +61.1 | -7.3 |
| Recursion Pharmaceuticals | benef2 | · | -55 | +27.9 | -31.4 | -39.5 | -11.2 |
| BYD Electronics | benef2 | -56.1 | +16 | -0.4 | +60.6 | -19.4 | -24.1 |
YTD as of 2026-09-04 · source: Yahoo Finance
Palantir Technologies operates across Defense & enterprise AI software. It is -1.9% in 2026. The demand side (avg +29.8%) is well ahead of the stock (-1.9%). Customer money has not fully worked its way down to this layer, which leaves catch-up room if propagation continues and a hardened gap if it stalls. Among connected nodes the furthest ahead is Voyager Technologies (+29.8%) and the furthest behind is Oracle (-17.8%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. The software demand apex of defense AI.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 2 · Hold 2 · Sell 1 · Avg. target $182 · Price $174.5 (09-05) · Upside +4%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| BNP Paribas Exane | Underperform | — | Jun 16, 2026 | Report ↗ |
| UBS Group · Karl Keirstead | Buy | — | Jun 16, 2026 | Report ↗ |
| Benchmark | Hold | — | Jun 16, 2026 | Report ↗ |
| Rosenblatt Securities · John McPeake | Buy | $225 | Jun 5, 2026 | Report ↗ |
| Cantor Fitzgerald | Neutral | $138 | May 22, 2026 | Report ↗ |
Initiated coverage at Underperform, arguing valuation runs well ahead of fundamentals.
Analyses covering this node
- The propagation was real and it had an order: the lag itself draws the chain Jun 23, 2026
- Many clocks: the information a single average erases Jun 23, 2026