Schwab Network on $PLTR (Nov 2, 2026)

Let's talk a little about Palantir. We always expect the highest levels of acceleration and growth from this company, and we are repeatedly surprised. Did we finally reach that point last quarter?

I don't think so. I think we will see continued acceleration.

I think there are some supporting forces working behind this that are constantly happening, such as the token cost of AI is decreasing and we are getting more intelligent models.

And it's making it easier to work for Palantir, which is basically going into a company and implementing AI in various ways, implementing their software, and extracting a return on investment (ROI) from that.

The cheaper these tokens become and the smarter the models become, the easier it is for them to work. And I think we'll see that again this quarter. So, I do n't see any slowdown in Palantir.

I think they would rather move forward more quickly.

Will this be enough for the market? I don't know. We have been going through a tough market for the past few weeks or even months. So, I think they will need huge success to make any significant change in the share price. That's for sure.

But, Palantir is building a business that is not in that fight right now. Has this company positioned itself in such a way that no matter what happens in other areas of AI, they will win?

All this has no effect on Palantir. Palantir is actually model neutral. It can work with any model, be it the best or the most affordable; It finds the right model at the moment of need.

Therefore, the company has largely protected itself from the current market capitalization concerns and other situations.

Rather, it can be said that if AI infrastructure or compute power fails to maintain its price, it is better for Palantir, because then the cost of compute and tokens will decrease further.

So all in all, I think it's pretty safe from all of this.

If you have a lot of infrastructure stocks, this can provide some diversification.

Let me just say one thing, the company's valuation is very high according to its PE ratio, but I think it would be wrong to judge this company by the PE ratio, because it is growing very quickly.

I think, what do we have? 93 percent growth in the last quarter compared to the previous year. I firmly believe that we will surpass that in this quarter.

So, I don't think we can make decisions based on past income. We should instead look at ARR or forward-looking data like AI labs. I think that's the right way.

Valuations are still quite high, but if you're heavily invested in infrastructure stocks, this could be a good diversification. Another development of the company that has been quite evident in recent years is the massive growth in commercial customers, not only in the number of customers, but also in the revenue generated from those customers.

It now feels much more balanced in terms of diversity.

A major criticism a few years ago was that "it's a company that relies heavily on US government contracts." Can we now say that the situation is still the same, but it is not as important as it was a few years ago?

Of course, it's not as important as it used to be. I think the commercial side of it is growing very quickly. Last quarter it was 100, I do n't remember the exact number, but probably 150 percent compared to the previous year.

It's growing at an incredibly fast pace and I think it will actually continue.

Uh, the problem with government contracts is that they take a long time, right? In fact, they are about to begin and be completed. The commercial sector is moving much faster, and I think there's a lot of pressure right now, especially from CEOs and public companies, to implement AI, have an AI strategy, and see some profit from it.

If you try to build your own system, it's a difficult task to do it yourself. And so, coming forward and creating or, sorry, using Palantir, and that's why I think they're seeing commercial growth and I think it's going to continue because this kind of pressure and competition is increasing in the commercial sector.

So, I think they will see big numbers commercially this quarter as well.

It is also a founder-run business. Alex Karp is a dynamic leader, perhaps controversial to some, much like Elon Musk or Steve Jobs.

How much premium does the company receive for this kind of visionary leader? Is this a situation where you can look beyond the forward PE, just because there is one person at the helm?

I think so. And I think this applies not only to the valuation of companies, but also to the contracts they sign. They don't have that premium like Palantir. And so, I think they can go into deals with companies, especially on the commercial side, and say, "Look, this is the team you're getting."

"Here are the results we've shown with all these customers before." And I think it's very easy for them to sell the deal.

There is no problem with their needs, that's for sure. Over the past year, they have done a good job of building their team and automating much of their work. So, they no longer have any staff constraints.

They have been able to automate and have built good software around it.

And so, I think they can charge big premiums and I think they've also been able to start implementing on a large scale, which is huge for their growth. This is another reason why I think they will do very well this quarter.

what risks do you see for Palantir in terms of implementation or execution? It's hard to find, because in my opinion the main risk right now is multiple compression. I think that's the biggest thing.

But it's difficult to find risks in terms of the implementation of their work and the products they are selling, as these models are getting better and more affordable day by day.

This is the perfect situation for a company like Palantir.

So I think there is a huge demand for what Palantir is doing. It is difficult to find risks in the implementation of their products. The main risk is valuation. There is a possibility that even if they perform very well, the share price may not increase, but rather decrease.

And so I think multiple compression is the biggest problem right now.