Palantir Technologies (NASDAQ: PLTR) reported second-quarter 2026 earnings before the bell Tuesday, delivering a blowout beat across every key metric and sending shares surging as much as 17% in premarket trading. Q2 results: Revenue came in at $1.94 billion versus the $1.80 billion analyst estimate. Adjusted EPS hit 41 cents, ahead of the 35-cent consensus. Adjusted free cash flow margin was 63%, and the company posted a Rule of 40 score of 155. Guidance raise: Full-year 2026 revenue guidance was raised from $7.65 billion–$7.66 billion to $8.15 billion–$8.16 billion, well above the $7.69 billion Street estimate. Q3 revenue is guided to $2.16 billion–$2.164 billion versus $1.997 billion expected. CEO Alex Karp appeared on CNBC to explain the growth driver: sovereign AI. Karp described it as an approach that lets customers governments and enterprises own and control their AI capabilities and the value created from deployments, rather than depending on third-party open or closed-source m...