Palantir Shares Rally as NVIDIA CEO Dismisses 'SaaSpocalypse' Fears
PLTR•Palantir stock climbed after Nvidia CEO Jensen Huang dismissed concerns of a 'SaaSpocalypse', stating that demand for enterprise AI and software platforms remains strong. His remarks fueled a 3% sector-wide gain in software shares, reversing earlier profit-taking in major cloud and SaaS providers.
1. Sector Reaction to CEO Comments
On June 1, software stocks rallied after Nvidia CEO Jensen Huang stated that a so-called 'SaaSpocalypse' would not materialize, highlighting robust enterprise AI and software platform demand. This commentary led to a 3% advance in the software index and lifted Palantir shares in mid-session trading.
