Palantir Technologies CEO Alex Karp appeared in a Bloomberg TV interview at the Foundrycon event in Palo Alto, California on March 7, 2024.
David Paul Morris | Bloomberg | Getty Images
There is a new member on the list of the top 10 technology companies in the United States.
Data analysis software supplier Palantir It rose about 8% on Thursday, with its valuation reaching $281 billion. This puts it ahead of Salesforcethe company closed for $268 billion, before ranking 10th. Palantir surpasses traditional technology giants Cisco and IBM Earlier this year.
Microsoft The highest market cap list is $3.3 trillion, followed by apple and Nvidia.
Palantir's induction has held a dramatic rally on the stock price, and over the past year, value has surpassed value. Stocks grew 58% in 2025, positioning Palantir as the top S&P 500 Performer's second year. The stock has been a big outlier in recent months, with tariff uncertainty and concerns about a slowdown making its technology peers less weighted.
Even after some bounces over the past three weeks, the Nasdaq has dropped 7% this year.
The largest technology company in the United States that divides market value
| Name | Market value | Forward P/E ratio |
|---|---|---|
| Microsoft | $3.26 trillion | 30.3 |
| apple | $2.95 trillion | 27 |
| Nvidia | $2.86 trillion | 27.1 |
| Amazon | $2.04 trillion | 30.6 |
| letter | $187 trillion | 16.8 |
| Meta Platform | $1.5 trillion | 23.5 |
| Broadcom | $976.9 billion | 30.5 |
| Tesla | $917.4 billion | 137.4 |
| Oracle | $421.5 billion | 23.5 |
| Palantir | $281.2 billion | 196.9 |
| Salesman | $268.4 billion | 25.1 |
source: CNBC
Palantir is formed by a group that includes Alex Karp, chairman of the company, and CEO. This includes a $178 million contract to build artificial intelligence-enabled systems for the U.S. Army.
In an amimated shareholder letter to the company's earnings report, Kalp praised his company's controversial defense operations and advised some former critics in Silicon Valley to "turn around and start under our leadership."
"We only noticed our commitment to the U.S. military to build software, those we demanded to move towards hurt, when such a commitment is fashionable and convenient, and when not."
But investors who want to act must pay because although Palantir has joined the top tech team by market capitalization, it is a smaller company in terms of sales and profits. SalesforceThe just-leaning cloud software company, which generates more than 10 times the revenue it has generated in the past year, is expected to do so again in the next four quarters.
All of this means that Palantir has a much higher multiple than its large-scale technology peers. Palantir currently has 520 times trading volume, nearly 200 times revenue and 90 times revenue.
Palantir vs. Nasdaq this year
"The fundamentals are obviously alive, but we think irrational valuations are valuations," Jefferies analyst Brent Thill wrote in a May 6 note. His stock rating is comparable.
Among the 10 other top technology names including Salesforce, the average value multiple behind is about 58, and it's only very high, because Broadcom and Tesla Both are about 160. For forward revenue, the average multiple is about 37.5, and Tesla's 137 figures inflated. For revenue, the average multiple is 10.2 and the highest premium for NVIDIA is 22.
Palantir shares fell more than 12% on Tuesday after first-quarter results. The company exceeded revenue estimates but showed a slowdown in international commercial sales shocked some investors. The expectation of accelerated growth also gives the company a premium limit.
"You don't have to buy our stock," Karp told CNBC's Brian Sullivan on Wednesday. "We're so glad. We'll work with the best people in the world and we'll rule."
watch: Palantir CEO: We bring revenue growth to regional banks at lower costs
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