Palantir Technologies shares hit a new all-time high on Friday. The stock is capping an active week driven by a blockbuster Q2 earnings report that showcased explosive growth.

Palantir's 550% stock surge reflects a genuine transformation. They've evolved from a niche government contractor to a potential infrastructure layer for the entire AI revolution. The Q2 results prove this isn't just hype—real businesses are paying real money for transformative results.

The firm, which has benefited from government cost cutting, saw strong revenue, but its price-to-earnings ratio could be a warning sign for investors. Shares of Palantir Technologies (Nasdaq: PLTR) are surging to new highs after the company reported better-than-expected Q2 2025 results.