Palantir has grown its market capitalization by about a third in under three months. The company is on track to close with a market capitalization upwards of $400 billion on Tuesday, helped by a 5.8% postearnings gain as of late morning,

Palantir jumped nearly 8% Tuesday after delivering its first $1 billion quarter and raising full-year guidance, fueled by surging demand for AI-driven government and commercial software.