Palantir (PLTR) Stock Rises After New Nvidia Partnership for U.S. Government AI

TLDR

• Palantir stock rose 4.2% in premarket Monday, adding to a 5.3% gain from Friday that ended a seven-day losing streak
• Palantir and Nvidia announced a new partnership to build custom AI models for U.S. government agencies using Nvidia’s Nemotron models
• PLTR has dropped 25% in June and is down 34% in 2026, trading well below its 50-day ($136) and 200-day ($159) moving averages
• Palantir also expanded its deal with Surf Air Mobility (SRFM), rolling out aviation software to more customers
• Analysts have a Moderate Buy consensus on PLTR with an average price target of $185.35, implying 64% upside from current levels

Palantir Technologies (PLTR) stock rose 4.2% to $117.65 in premarket trading Monday, building on a 5.3% gain from Friday that snapped a brutal seven-session losing streak.

Palantir Technologies Inc., PLTR

The catalyst? A freshly announced strategic partnership with Nvidia (NVDA).

Palantir said Monday it has teamed up with Nvidia to bring Nvidia’s Nemotron AI models into U.S. government environments. The two companies will combine Nvidia’s AI platform with Palantir’s infrastructure products — including AIP, Foundry, Ontology, and Apollo — to give government agencies a secure setup for training and deploying AI.

CEO Alex Karp framed it plainly: the deal lets government customers tap into large language models without the risk of sensitive data leaking into closed model weights. He noted many U.S. customers are already using Nemotron models and the deal will help more of them get access.

The timing matters. PLTR has been one of 2026’s more painful stories for long-term holders. After three straight years of massive gains, the stock has shed 34% year-to-date on broad concerns that AI disruption could eat into software revenue. June alone has been rough — down 25%, tracking toward its worst monthly performance in five years.

During the losing streak from June 16 to June 25, Palantir broke below several key technical levels. It’s been trading under both its 50-day moving average (around $136) and its 200-day moving average (around $159). The stock hit a recent low of $107.27 on Thursday before bouncing.

Second Deal: Surf Air Mobility

Monday’s Nvidia news wasn’t the only announcement. Palantir also expanded its existing partnership with Surf Air Mobility (SRFM), rolling out OperatorOS, OwnerOS, and SurfOS Enterprise to more customers in the private aviation and air mobility market.

The software runs on Palantir’s AIP and Foundry platforms and is designed to help aircraft operators manage day-to-day work, cut costs, and improve efficiency. Palantir will also provide sales and go-to-market support as part of the expanded deal.

The Surf Air expansion is a smaller story than the Nvidia tie-up, but it adds to a pattern. Just weeks ago, Palantir expanded its AI partnership with Google (GOOGL) Cloud, signaling the company is pushing hard on commercial and government partnerships as a growth lever.

Where Analysts Stand

Wall Street is split. On TipRanks, PLTR carries a Moderate Buy consensus based on 13 Buy ratings, six Holds, and two Sells. The average price target sits at $185.35 — which would represent about 64% upside from current levels.

Whether the Nvidia deal is enough to turn the tide for PLTR remains to be seen. But the stock’s recovery off the $107.27 low, combined with back-to-back positive sessions and two new deal announcements, gives bulls something to work with.

PLTR was up 5.28% as of Monday’s session.

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