By Arsheeya Bajwa

(Reuters) -Palantir Technologies has succeeded where most tech stocks have struggled this year: staying hot in a cooling market.

The company’s military-grade AI tools along with its deep defense ties and high-level government connections at a time when the U.S. is boosting spending on defense software have helped investors raise the bets on the stock.

It has surged more than 70% this year and is the S&P 500’s second-best performer – a standout in an otherwise sluggish tech market roiled by investor worries over U.S. tariffs and economic uncertainty.

Palantir co-founder Peter Thiel was an early backer of President Donald Trump and has close ties with key Washington lawmakers, including Vice President JD Vance, whom he supported in a 2022 U.S. Senate race.

“The relatio

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