Palantir stock climbed 4.6% after unveiling a joint sovereign AI engine with Nvidia that pairs Blackwell Ultra GPUs and Nemotron models with its AIP, Ontology, Foundry and Apollo platforms for secure government and critical infrastructure deployments. The shares snapped a seven-session slide after tumbling about 25% in June to a 52-week low of $106.37.
Palantir and Nvidia have co-developed an intelligent engine that integrates Nvidia’s Blackwell Ultra GPUs and Nemotron open models with Palantir’s AIP, Ontology, Foundry and Apollo platforms. Designed for U.S. government agencies and critical infrastructure operators, this on-premise and edge deployment under zero-trust protocols allows agencies to run large language models without routing sensitive data through third-party clouds.
The stock surged 4.6%, ending a seven-day losing streak, while Nvidia shares held flat—highlighting a sector rotation favoring software over semiconductors. Last Friday, software ETFs IGV and XSW jumped nearly 4% as the semiconductor ETF SMH declined about 4%, and today's session sees IGV up 2.9%, XSW up 1.6%, and SMH essentially flat.
In June, Palantir shares fell approximately 25% amid rising rate expectations, potential loss of the UK NHS contract and European rival gains, plus competition from Anthropic in enterprise AI procurement. The stock hit a 52-week low of $106.37 before rebounding to near $119, still down from its $207.52 peak.
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