Palantir Technologies PLTR-Q forecast fourth-quarter revenue above analysts’ estimates on Monday, as the rapid adoption of artificial intelligence boosts demand for its data analytics services from businesses and governments.

Shares of the company gained about 2 per cent in extended trading.

The defence contractor raised its annual sales target for the third time this year, amid strong sales for its services that ease the transition to the complex, data-intensive technology.

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Palantir, co-founded by tech billionaire Peter Thiel, expects fourth-quarter sales of between US$1.327-billion and US$1.331-billion, compared with analysts’ av

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