Palantir shares soar: Why Swiss investors are now betting on the AI powerhouse
You don't have to be a devoted admirer of CEO Alex Karp to grasp the current fascination with Palantir Technologies. While other tech firms are still philosophising about whether artificial intelligence actually generates revenue, the Denver-based data analyst is simply delivering the goods. And it seems this message has now reached institutional investors in Switzerland.
Switzerland discovers Palantir: Swiss Life gets on board
While the Palantir share price has seen considerable volatility in recent weeks – who would have thought it, given a triple-digit P/E ratio? – a clear signal has emerged from the insurance sector. Swiss Life Asset Management Ltd increased its stake in Palantir Technologies by a hefty 5.6 per cent in the third quarter. Some 858,000 shares, worth around $156 million, are now sitting in the Zurich-based firm's portfolio. That's not small change; it's a statement. It signals a desire to be part of the movement as the US government and its allies place their defence and intelligence infrastructure on Palantir's software foundation.
Numbers that speak for themselves: 70% revenue growth
Let's look at the tangible facts. The fourth-quarter 2025 figures were nothing short of spectacular. Revenue surged 70 per cent to $1.41 billion, while earnings per share comfortably beat expectations at $0.25. If anyone were to argue that this was merely due to a low comparison base from the previous year, they should examine the core US business: commercial revenue there jumped by 137 per cent. So, the company has finally succeeded in translating the stock market's AI euphoria into genuine commercial contracts. And what does this mean for the full year? Management is projecting revenue of $7.19 billion for 2026 – growth of over 60 per cent.
Analysts follow suit: Major financial houses weigh in
Naturally, such stellar figures haven't gone unnoticed by analysts. Particularly intriguing: several of the most prestigious analyst firms have recently upgraded Palantir again – and this despite a significant correction in the share price beforehand. One analyst, closely connected to the Zurich financial centre and a long-time follower of the company, raised the price target to $200 and maintains a clear 'buy' rating. His reasoning? Demand for AI and data infrastructure is exploding, and Palantir Technologies, with its Artificial Intelligence Platform (AIP), sits precisely at the intersection where the money is flowing. Another major investment bank even sees a "sales upside" scenario of 80 per cent by the end of the year. Little wonder, then, that despite all the volatility, the analyst consensus sits at "Moderate Buy" with an average price target of just under $200.
The philosophical foundation: Why Karp rails against pizza apps
Things get even more fascinating than the raw numbers when you understand why the business is performing so well. Alex Karp, the man in a tracksuit with a doctorate in philosophy, has co-authored a book with Nicholas Zamiska: "The Technological Republic: Hard Power, Soft Belief, and the Future of the West". It sounds like heavy reading, but it serves as the blueprint for the company's strategy. In it, Karp delivers a ruthless takedown of Silicon Valley, which he sees as having lost its way in social networks and pizza delivery apps. His thesis: the true purpose of the tech industry is the defence of the West.
Instead of copying Meta and Google, Palantir focused on hard currency from the outset: contracts with the Pentagon, intelligence agencies, and now the Army. As the world becomes more uncertain, Palantir becomes systemically important. The recent contracts, such as the multibillion-dollar deal with the US Army or integration into the Marines' shipbuilding initiative "ShipOS", are living proof of this. Karp doesn't view data as a plaything for advertisers, but as a patriotic asset.
The dilemma of success: Between hype and hard reality
Of course, it would be disingenuous to pretend this is a sure-fire thing. The Palantir share remains a decidedly bumpy ride. The price-to-earnings ratio exceeding 200 is breathtaking and a cautionary note. Insider sales – not least by Karp himself – are hardly a vote of confidence for shareholders. And a glance at the geopolitical landscape reveals: this is not peace. Observers from the US tech sector recently raised their price target to $200, explicitly citing rising demand for "war technology". It's a sombre backdrop for a gleaming business.
Nevertheless, for investors who take the character of a company as seriously as its balance sheet, Palantir is a unique phenomenon. It is the perfect embodiment of the new tech patriotism. Swiss Life has recognised this. Now it remains to be seen whether the gamble pays off. The foundations, at least, are set for growth.
- Q4 2025 revenue: $1.41 billion (+70% year-on-year)
- 2026 forecast: $7.19 billion revenue
- Analyst consensus: Moderate Buy
- Price target (recent analyst estimates): $200
- Most striking detail: US commercial business grew by 137%