?Data intelligence group Palantir boosted its 2025 outlook and said its sales increased almost 50 per cent in the second quarter to hit $1bn for the first time amid booming demand for its artificial intelligence platform.

Revenues for the three months to the end of June beat Wall Street forecasts of $939mn. Palantir said it expected revenues for the full year would be between $4.1bn and $4.2bn, from a previous forecast of about $3.9bn, while it also lifted its predicted annual revenues from US businesses to more than $1.3bn.

The group reported a 53 per cent year over year increase in revenue from the US government to $426mn, as it benefited from US President Donald Trump’s increased focus on national security and vow to increase defence spending.