At AIPCon 11, Palantir CEO Alex Karp breaks down why Palantir stands apart from the parasitic software industrial complex, what we refuse to build, and how Sovereign AI deepens our alignment with our partners.

PALANTIR EVENT TODAY Palantir $PLTR just confirmed that its AIPCon 11 event will be taking place today "Some of the world’s most consequential institutions across aviation, technology, media, insurance, defense, healthcare, and manufacturing take the stage. Acrisure. Cisco. Eaton. The FAA. Hexion. L3Harris. Novartis. NVIDIA. Ondas Sentinel. USA TODAY. Zeta. And more"

$PLTR $ZETA Sat down with David Steinberg, CEO of Zeta Global, at Palantir's 11th AIPCon to discuss the company's new partnership with Palantir, how their missions around outcome based incentives aligned, and where the future is headed for Zeta's overall growth. Thank you to @dsteinberg10000 for taking the time!

“Dr. Karp talks about chips and ontology. This is ontology for chips.” At AIPCon 11, @nvidia reveals how it is partnering with Palantir to build and run their supply chain on Palantir.

AI is raising expectations for personal computing. Users want intelligent experiences that are responsive, personal, and available wherever they work. Join Nirav Patel, CEO of Framework, and Chris Moore, VP of Marketing at Micron, as they discuss how AI is reshaping the future of PCs, from on-device AI and system design to the memory and storage innovations needed to deliver next-generation experiences at the edge. Watch the full conversation. #AI# #AIPC# #FutureOfComputing#

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY. Here's a full recap: 1. Nvidia $NVDA and Palantir $PLTR expanded their AI partnership, building a new stack that combines Palantir’s sovereign AI platform with Nvidia’s custom Nemotron open models. The technology is being deployed first across Nvidia’s own supply chain, using AI to capture operational intelligence and accelerate the process from “wafer to first token.” Other companies will be able to deploy the same architecture across their own supply chains, either in the cloud or on-prem. The partnership, first announced in October 2025, has continued compounding into new verticals, use cases, and sovereign AI deployments built around one core idea: enterprises and governments want to own, control, and make sense of their own data. Palantir also hosted its 11th AIPCon today, where partners showcased how they are using Ontology, Foundry, AIP, and Sovereign AI to solve complex operational problems. 2. U.S. PPI came in slightly hotter than expected, rising 5.4% YoY versus 5.3% expected, while monthly PPI rose 0.4%, in line with estimates. Core PPI was 4.6% YoY, matching expectations, while core monthly PPI rose 0.2%, below the 0.3% estimate. Initial jobless claims came in at 206K versus 205K expected, showing labor-market claims remain broadly steady even as producer inflation stays elevated. 3. Microsoft $MSFT plans to triple its global data center capacity, expanding from roughly 12 GW today to more than 38 GW by 2032, according to Bloomberg. That would add about 26 GW of capacity, with AI-specific compute expected to grow from around 2 GW today to roughly one-third of total capacity by 2032, or about 13 GW. The target excludes compute rented from neoclouds like CoreWeave. The buildout comes after capacity shortages forced Microsoft to restrict some cloud subscriptions and turn away AI and cloud demand. Microsoft spent $145B in capex last fiscal year and has $329B in future data center lease commitments. 4. Oracle $ORCL delivered more than 300,000 GPUs to AI cloud customers since the end of Q4, nearly tripling the capacity delivered in Q4 FY26. The company’s RPO surged by $209B YoY to $664B after booking more than $30B of additional AI cloud contracts in Q1. Q1 revenue came in at $19.3B versus $19.14B expected, up 30% YoY, while adjusted EPS was $1.92 versus $1.74 expected, also up 30% YoY. Cloud revenue reached $11.6B, up 62% YoY, led by cloud infrastructure revenue of $7.4B, up 121% YoY. Oracle also guided FY revenue to at least $90B and adjusted EPS to $8.10, while disclosing $28.5B of capex, -$5.4B of free cash flow, and a $20B ATM equity program. 5. The top 10 most active options today by contracts traded were $AAPL with 2.8M contracts, $NVDA with 2.3M contracts, $TSLA with 1.6M contracts, $SPCX with 1.2M contracts, $MU with 769K contracts, $META with 750K contracts, $ORCL with 733K contracts, $INTC with 628K contracts, $GOOGL with 475K contracts, and $AMZN with 409K contracts. 6. Adobe $ADBE reported Q3’26 revenue of $6.8B versus $6.69B expected, up 13% YoY, with adjusted EPS of $6.13 versus $6.09 expected, up 15% YoY. ARR reached $27.5B, while RPO came in at $22.2B and AI-first ARR growth was 150%+. Adobe also raised its FY26 guide, now expecting revenue of $26.58B-$26.63B and EPS of $24.45-$24.50, both ahead of estimates. Segment strength remained broad, with Customer Groups revenue at $6.6B, up 14% YoY, and Creative & Marketing Professionals revenue at $4.7B, up 13% YoY. The company also crossed 1B+ monthly active users, calling it a defining moment for Adobe. 7. Uber $UBER CEO Dara Khosrowshahi bought 141K shares for about $10M at an average price of $70.96. The purchase marks Dara’s first open-market buy of Uber stock since May 2022, when he bought 200K shares at roughly $26.73. A $10M insider buy from the CEO is a notable confidence signal as investors continue watching Uber’s growth, margin expansion, buybacks, and long-term autonomous vehicle strategy. 8. Nvidia $NVDA CEO Jensen Huang says cybersecurity is likely AI’s next major market, as AI-generated code accelerates both software development and the vulnerabilities that come with it. Huang said rapidly evolving threats should drive more demand for AI-powered security and automated defenses, creating another major growth vertical for the technology. He also pushed back on the idea that Nvidia’s AI financing is “circular,” saying, “We put a little bit of money in and a lot of money comes back. We put in 1 and 100 comes back in.” Huang added that the financing only happens because the off-take is already there: “That off-take is $100B. It’s lined-up contracts. It is real stuff.” He said Nvidia knows where the demand is coming from, understands the quality of that demand, and that its financing is only a “very small part” of these projects. 9. SpaceX $SPCX CFO Bret Johnsen said the company signed another AI compute hosting deal that will generate $1.11B of revenue per month, or $13.3B annually, starting December 1, 2026. “Earlier this month, we closed another hosting deal. By the end of this year, with annualizing our December number, we're on track to hit $100B of ARR,” Johnsen said at Goldman Sachs’ Communacopia and Technology Conference. The update highlights how quickly SpaceX’s AI compute business is scaling into one of the largest infrastructure revenue stories in the market. 10. GameStop $GME CEO and Chairman Ryan Cohen bought 1M shares at an average price of $20.38, a purchase worth roughly $20.4M. His Form 4 shows 39.35M shares directly owned, while a new 13D reports 43.1M shares beneficially owned, equal to an 8.5% stake. The buy adds another insider-confidence signal at a time when investors are watching how Cohen plans to deploy GameStop’s balance sheet and reshape the company’s long-term strategy. 11. Robinhood $HOOD ended August with 28.6M funded customers, up 7% YoY, while total platform assets reached $383.7B, up 8% MoM and 26% YoY. Net deposits were $4.0B. Trading activity stayed strong, with equities at $335.4B up 68% YoY, options at 292.5M contracts up 50% YoY, crypto at $17.5B up 61% MoM but down 38% YoY, and event contracts at 4.7B, down 23% MoM but up 15x YoY. Interest-earning assets also continued scaling, with margin balances at $21.5B up 72% YoY, cash and deposits at $19.6B up 37% YoY, and cash sweep at $31.2B up 7% MoM. Robinhood also expanded the platform with agentic options and crypto trading, Robinhood Earn, Smart Income, UK crypto trading, 190+ stock tokens on Robinhood Chain, and additional Cortex and IPO Access features for RIAs. 12. Saudi oil output fell to its lowest level since 1990, as Saudi Arabia told OPEC its production declined again. At the same time, OPEC cut its 2026 global oil-demand growth forecast to 380K bpd from 580K bpd, while raising its 2027 demand-growth outlook to 2.36M bpd from 2.16M bpd, signaling a potential rebound next year. OPEC+ crude production averaged 38.05M bpd in August, up roughly 300K bpd from July. The backdrop is getting more complicated for markets, with oil pushing past $100/barrel and the 10-year Treasury yield near 4.9%. WALL STREET IS THE GREATEST SHOW ON EARTH.

$NVDA $PLTR NVIDIA AND PALANTIR CONTINUE TO EXPAND THEIR AI PARTNERSHIP. - NVIDIA and Palantir are building a new AI stack combining Palantir’s sovereign AI platform with NVIDIA’s custom Nemotron open models. - The technology is being deployed first across NVIDIA’s own supply chain, using AI to capture operational intelligence and accelerate the process from “wafer to first token.” - Other companies will be able to deploy the same architecture to optimize their own supply chains, either in the cloud or on-premises. This collaboration was first announced in October 2025 and has compounded into new verticals, usecases, and partnerships to advance Sovereign AI. Palantir and Nvidia are two companies continuing to bring this forward because of how deeply they believe in their partners benefiting from the ability to own and make sense of their own data. Palantir will also be hosting their 11th AIPCon today with partners showing how they are deploying Palantir’s Ontology, Foundry, AIP, and Sovereign AI to tackle complex challenges.

$PLTR Palantir, once again, puts up one of the best quarters that the market has ever seen. Being able to grow revenues 96% while having 62% adjusted operating income margins is unheard of. There is no other software company that is even close to putting up these types of results. US commercial revenue officially passed US government revenue for the first time. I remember in 2022, the bear case was centered around the company being too reliant on the USG. If anything, that was the bull case because that gave them the time to figure out how to scale US commercial and now we have a company doing 29% growth QoQ, which would be amazing YoY for most companies as Dr. Karp said, but also scaling that YoY growth at 148% for US commercial. It is unprecedented. So, why? Why is it happening? Well, it seems like Sovereignty is a very, very big deal. “The Sovereign AI movement is imposing the most dramatic dichotomy between haves and have nots that I have witnessed in 30 years of business. Every institution—government and commercial—is rapidly being forced, voluntarily or not, into one of these two categories,” said Alex Karp. Having been to multiple AIPCons and Institutional Sovereignty bootcamps this year, I can say that this is very real. When you talk to customers, you realize that they want much, much more than just plugging their enterprise into an LLM. They actually want FDEs, they want the grunt work of figuring out how to build custom workflows, they want the post training and fine tuning of open models...they want outcomes. The reason Palantir is growing this fast and continuing to show so much operating leverage is because they are delivering outcomes. That's why this is working. The company is doing this with 1090 customers. Most enterprise software companies at this scale have well over 100K customers. I mean, once again, this is unprecedented. Their net dollar retention scaled to 165%...their rule of 40 is now a new record at 158%...these are numbers that you only get when the company's entire mission is geared towards making sure their partners succeed and as a result, they are being paid for that value and then monetizing that value at the highest efficiency any software company ever has before with these margins. Stock is down due to macro, midterms, etc. but the core business is growing faster than anything we have ever seen and doing so in one of the most profitable ways ever. Their adjusted FCF in 90 days is now equal to the revenue they were bringing in early last year. An incredible quarter by Palantir, congrats to all shareholders and a deep thank you to the executive team and employees.