Palantir (PLTR) shares rose 5% to $195.36 in early trade after a partnership with privately held Knox Systems, aimed at customers in FedRAMP and high-security Department of War cloud environments. Knox runs a large managed federal cloud and offers an accelerated path to FedRAMP authorization, while Palantir provides its accredited infrastructure, a combination designed to shorten the route for software makers seeking defense customers. In Q2 2026, Palantir's U.S. Government revenue rose 90% year over year to $809 million, and total revenue grew 92.8% to $1.94 billion. The stock trades at a 263x P/E. Leidos rose 1% and Booz Allen Hamilton fell 1%, while the SPY ETF gained 0.8% and the ITA ETF slipped 0.3%.
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