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Palantir's Perfect Quarter, and Caterpillar's Backlog Explodes
Palantir delivered an A++ quarter, with revenue up 93% to $1.94 billion, US commercial up 159%, a Rule of 40 at 155, and guidance raised over $8 billion for 2026. I get into Alex Karp's CNBC clip on AI sovereignty, why Michael Burry's short thesis that Anthropic is eating Palantir's lunch misses that they sell to different enterprises, and why there is no bear case to find on the surface. Caterpillar also crushed it with revenue up 24% and a $72.1 billion backlog, up 92% year over year, and I touch on TransDigm, BWXT and Anduril as the industrial and defense theme keeps playing out. I close…
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