PLTR Is Up 85% YoY and Karp Says He's Going 100% — The Street Is Finally a Believer

$PLTR just dropped what might be the earnings report of the year — $1.63 billion in revenue, up 85% year-over-year, its fastest growth since going public in 2020. CEO Alex Karp didn't do modest: he said Palantir plans to grow 100% next year with fewer employees, which is either visionary or completely unhinged. The kicker? Palantir's free cash flow this year already exceeds its total revenue from last year. CNBC's coverage is going viral, Reddit's r/wallstreetbets is losing its mind, and X is calling this the "AI defense trade of the decade."

Meanwhile, Brad Gerstner of Altimeter Capital rotated out of $MSFT and into $NVDA — which he calls "terribly underowned and undervalued" at around $195 and 13-14x fully taxed earnings. He's also pounding the table on memory chip plays, arguing the AI demand cycle has legs through 2028-2029. YouTube finance is eating this up, and honestly, it's hard to argue with the logic when hyperscalers are still accelerating capex.

Two very different bets, same underlying thesis: AI infrastructure is the only trade that matters right now, and anyone sleeping on it is going to need a time machine.